Coinbase CEO Brian Armstrong's NewLimit biotech startup raises $130M to fight aging through cell reprogramming.

The Series B round values NewLimit at $810M, with backing from top investors like Kleiner Perkins and Founders Fund.

Coinbase CEO Brian Armstrong is juggling two massive priorities: spearheading stablecoin legislation and investing in biotech to combat aging. As crypto CEOs navigate market volatility, Armstrong is tackling problems that could fundamentally alter society.

At 51 years old, Armstrong has become a central figure in the cryptocurrency industry, co-founding Coinbase, the leading cryptocurrency exchange in the U.S. But his entrepreneurial spirit and far-reaching vision extend beyond the realm of digital assets.

Along with former GV partner Blake Byers and stem cell scientist Jacob Kimmel, Armstrong has co-founded NewLimit, a biotech startup focused on developing therapies to fight aging by reprogramming cells.

The startup has raised $130 million in a Series B funding round, valuing the company at $810 million. The round was led by Kleiner Perkins and included participation from Founders Fund, Elad Gil, Patrick Collison, and Garry Tan.

The investment will help NewLimit advance its flagship program, which aims to restore youthful function to aging cells through epigenetic reprogramming.

Early results are promising, with the team identifying three prototype medicines that target liver cells, improving their fat and alcohol processing capabilities in lab tests.

However, human trials are still several years away. In the meantime, NewLimit is expanding into research on the immune system.

Armstrong is motivated by the urgency of combating what he sees as the largest source of human tragedy: aging. He believes that technology can play a crucial role in this endeavor.

“I think the impermanence of human life is one of the largest sources of tragedy in the world. We can use technology to change that,” Armstrong said.

This mission aligns with the endeavors of other tech titans, such as Jeff Bezos, Larry Ellison, and Vitalik Buterin, who have collectively invested over $700 million into anti-aging research.

However, Armstrong's approach is unique, combining his scientific interest with his role as an operator and his ability to see ten steps ahead.

As the CEO of Coinbase, Armstrong has been a vocal advocate for crypto regulations, particularly in the stablecoin domain.

Earlier this week, Armstrong urged the U.S. Senate to pass the GENIUS Act, a bipartisan stablecoin bill that would introduce a federal licensing regime, enforce reserve requirements for issuers, and create a dual regulatory model splitting oversight between federal and state levels depending on issuer size.

The Treasury predicts that stablecoins could surge from $230 billion to $2 trillion by 2028, presenting both an opportunity and a risk to traditional banking systems.

With his biotech startup, crypto exchange, and social media presence, Armstrong is constantly juggling multiple priorities and urging others to do the same.

"Congress has a real opportunity this week to advance stablecoin and market structure legislation," Armstrong stated on X.

"We strongly support the Senate starting debate on the GENIUS Act - and we need 60 votes to get there. We also welcome House efforts to build on FIT21's momentum. Both chambers need to pivot to new legislation in the fall."

In other news, a new report by the Federal Reserve Bank of San Francisco suggests that cryptocurrencies could pose a threat to the stability of the U.S. financial system if they are not regulated effectively.

The report, titled "Cryptocurrencies, Decentralized Finance, and the Stability of the U.S. Financial System," examined the potential impact of cryptocurrencies and decentralized finance (DeFi) on the U.S. financial system.

The researchers found that cryptocurrencies could pose a threat to financial stability if they are used to hedge against inflation or if they become a dominant means of payment.

In both cases, cryptocurrencies could lead to large and rapid price movements, which could destabilize the financial system.

The researchers also found that DeFi could pose a threat to financial stability if it leads to a build-up of systemic risk in the shadow banking system.

DeFi is a rapidly growing branch of cryptocurrency that aims to create decentralized financial products, such as loans, derivatives, and exchanges.

The researchers concluded that the best way to mitigate the risks posed by cryptocurrencies and DeFi is to regulate them effectively.

"The key takeaway is that the integration of cryptocurrencies and DeFi into the U.S. financial system will depend crucially on public policy choices," the researchers wrote.

"If policymakers choose to regulate cryptocurrencies and DeFi effectively, then they can be integrated into the U.S. financial system in a way that promotes innovation and stability. However, if policymakers do not intervene, then cryptocurrencies and DeFi could pose a threat to financial stability."output: Coinbase CEO Brian Armstrong is juggling two massive priorities: spearheading stablecoin legislation and investing in biotech to combat aging.

While most crypto CEOs are busy navigating market volatility, Armstrong is tackling problems that could fundamentally alter society. At 51 years old, he has become a central figure in the cryptocurrency industry, co-founding Coinbase, the leading cryptocurrency exchange in