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Coinbase Coinbase Founder Invests in NewLimit Business, Focused on Human Life Extension
Coinbase founder Brian Armstrong has invested in NewLimit, a biotech startup focused on increasing human lifespan. Armstrong himself wrote about this on his Twitter page.
According to the announcement, the startup was founded by Armstrong and Blake Byers. Capital of NewLimit was $ 105 million. It is reported that NewLimit will begin work on the study of epigenetic factors of aging. The company also intends to develop products that can regenerate tissue to treat specific patient populations.
“We will start by using primary human cells and reference species to develop machine learning models of which chromatin features change with age, which of these changes may be the cause of the aging process…”, – says the announcement.
The founders of NewLimit acknowledge that, despite their ambitious goal, the top priority the goal of the project is to create a commercial company supplying products that will generate income. However, the founders assure that the company’s products will be available to everyone. When the company intends to present the finished product remains unknown.
Brian Armstrong founded Coinbase (COIN) cryptocurrency exchange in 2011. At the time of this writing, the company’s capitalization is fixed at 63.7 billion, although at the start of trading, the capitalization was $ 100 billion. The cost of one COIN share is $ 247.1.
Earlier it became known that the cryptocurrency exchange Coinbase faced a class action lawsuit. Investors claim that the company misled them. The plaintiff in the lawsuit was the stock exchange shareholder Donald Ramsey.
According to the lawsuit, the Exchange violated US securities law because its executives made “blatantly misleading statements.” This was done in order to raise the price of COIN shares before the start of trading. For example, the lawsuit says the company needed a “significant cash injection” due to frequent service level disruptions.
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