PANews reported on May 18 that according to Bloomberg, Coinbase paid as much as $6.2 million for the personal security of its CEO Brian Armstrong last year, which exceeded the total security costs paid by JPMorgan Chase, Goldman Sachs and Nvidia for their executives.

Due to the recent frequent kidnapping and extortion incidents, cryptocurrency tycoons have stepped up security measures and hired bodyguards to deal with potential threats. For example, the violent kidnapping of Ledger co-founder David Balland and his wife in France further exacerbated the industry's concerns about security issues. These incidents have prompted high-net-worth individuals in the crypto industry to adopt a more low-key and professional security strategy to prevent similar risks.