Crypto executives are turning the corner from “privacy concerns” to “personal safety budgets.” Coinbase reportedly spent about $7.6 million on CEO Brian Armstrong’s personal security in 2025, a more than 20% jump from the prior year, Bloomberg reports via the company’s proxy filings.
The timing matters. Bloomberg links the higher spend to an increase in physical attacks against crypto holders. The article cites CertiK data that shows 72 confirmed incidents and $41 million in known losses, alongside the claim that physical attacks rose 75% last year.
Why it matters
Security costs have become a line item investors and regulators can’t ignore, because proxy filings now document it. The reported $7.6 million figure also lands above what Bloomberg says major Wall Street banks typically disclose for CEO protection.
That puts pressure on the industry in two directions. First, executives face higher direct costs to operate. Second, the broader market can infer that the risk environment is worsening in real, physical space, not just on-chain.
Market impact
The response is spreading beyond one company. The report says Gemini spent about $2.5 million on security for its two co-founders, Cameron and Tyler Winklevoss, in 2025. It also notes that Gemini signed a protection deal for $400,000 per month for the twins and their families.
Circle is cited as spending nearly $800,000 on its CEO, Jeremy Allaire, in 2024. Robinhood reportedly spent around $1.6 million on CEO Vlad Tenev.
Meanwhile, conference and event security has turned more visible. At Bitcoin 2026 in Las Vegas, the report says high-profile speakers were seen with personal bodyguards. It also describes a workshop led by security expert Ben Perrin at the conference that taught attendees how to protect digital assets under physical coercion, including the use of decoy wallets, time-lock mechanisms, and duress features on hardware wallets.
A similar posture showed up in Paris Blockchain Week, where the report says guests were escorted by a police motorcade to a VIP dinner and organizers increased security around the event.
A concrete illustration of the threat is included in the report as well. In March, a crypto holder known online as Sillytuna reportedly said armed attackers stole about $24 million in tokens after physically intimidating him and threatening him with kidnapping and sexual assault.
Security spending figures cited in the report
| Company | Who | Security spend (reported) | Year | Source basis |
|---|---|---|---|---|
| Coinbase | Brian Armstrong | ~$7.6M | 2025 | Bloomberg via Coinbase proxy filings |
| Gemini | Cameron and Tyler Winklevoss | ~$2.5M total | 2025 | Bloomberg report |
| Gemini | the twins and families | $400,000 per month | deal after 2025 | Bloomberg report |
| Circle | Jeremy Allaire | ~$800k | 2024 | Bloomberg report |
| Robinhood | Vlad Tenev | ~$1.6M | 2024–2025 period cited | Bloomberg report |
What to watch next
The piece argues the vulnerability isn’t just a security-team problem. It claims public blockchains are pseudonymous rather than anonymous, so ownership can become traceable when leaked exchange data and chain analytics combine into “a legible map of who holds what,” quoting Bloomberg.
If that framing holds, demand for protection services should keep rising. The report says Executive Risk Services moved from receiving inquiries about once per quarter two years ago to about once per week now. It also cites managing director Jethro Pijlman at Amsterdam-based Infinite Risks International, which provides bodyguards, armored vehicles, and social media monitoring, saying it has seen more inquiries, more long-term clients, and more proactive requests.
France also features as a policy hotspot. The article says France became a center for crypto crime after attacks on crypto entrepreneurs and their families. It further says France’s Interior Minister promised a priority emergency number for the industry, with elite police units offering security briefings for crypto executives and their families.
Why it matters (policy angle)
Those emergency-number and briefing plans would shift what “responsible operations” look like for crypto executives. If governments treat crypto crime as a public safety category, the compliance burden can follow fast.
The deadlines aren’t spelled out in the report. But the direction is. Monitor proxy filings for rising security line items and watch for official France announcements tied to the promised emergency number and police briefings.