Coinbase CEO to spend $435 million on longevity research

Traders Union
All News
Crypto News
Coinbase CEO will spend $435 million

All news

Editors' Picks

Crypto News

Financial News

Market Voices

Billionaires

Companies

Broker News

Regulators News

Eugene Komchuk

Yesterday

Coinbase CEO to spend $435 million on longevity research — Coinbase CEO’s unusual startup

NewLimit, a biotech startup focused on life extension technologies and founded by Coinbase CEO Brian Armstrong, has raised $435 million. The company will use the funds to prepare its first medicine for reprogramming aged cells for human clinical trials.

NewLimit announced the funding round on June 2. The round was led by Founders Fund. New investors included Thrive Capital, Greenoaks and Quiet Capital. Existing backers also took part, including Kleiner Perkins, Abstract, Nat Friedman and Daniel Gross, Valor Equity Partners, Eli Lilly Ventures and Human Capital.

Loading...

The tweet was deleted by the author.

But we saved everything 🙂.

The company said it will use the funds to advance its first anti-aging drug toward clinical trials, which are planned to begin next year.

“Following breakthrough results, we’re bringing longevity medicine to human trials,” NewLimit said.

What the startup specializes in

NewLimit works in the field of epigenetic reprogramming. This approach aims to restore more youthful functions in old cells. The company emphasizes that its medicines are designed to treat diseases linked to aging by changing how cells behave, without changing the DNA code itself.

NewLimit’s first program is focused on the liver. According to the company, its therapy helped old human liver cells show signs of younger function in early-stage research. In its first human trials, NewLimit plans to test how this approach works in the human body.

NewLimit was founded in 2021 by Brian Armstrong, former GV partner and bioengineer Blake Byers, and computational biologist Jacob Kimmel, who serves as the company’s CEO and president. The startup has become one of Armstrong’s most visible projects outside Coinbase.

The fundraising also fits into Armstrong’s broader interest in new technologies, including AI and automation. Earlier reports said Coinbase used AI to reduce account restriction resolution times by 90%. Armstrong himself has also named AI tools, stablecoins and tokenization among the key areas for upgrading the financial system.

Not just cryptocurrencies

Crypto companies are increasingly moving beyond their core market and investing in products that are not directly related to tokens, blockchain or exchange trading. NewLimit is a good example of this trend: Coinbase co-founder Brian Armstrong is developing a biotech startup focused not on cryptocurrencies, but on longevity medicine and the reprogramming of old cells.

Tether offers a similar example. The company behind the largest stablecoin, USDT, invested $50 million in Eight Sleep, a startup that makes smart sleep systems and high-tech mattress covers. The deal valued Eight Sleep at around $1.5 billion. In other words, crypto market money is increasingly flowing not only into new blockchains or DeFi projects, but also into biotech, AI, health, sleep and other consumer technologies.

As a reminder, Coinbase recently reported wider quarterly losses.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.