Coinbase has launched an internal venture capital program, "Next Bets," to prevent the loss of talent and creative ideas.

CoinFeed reported on March 31 that Coinbase CEO Brian Armstrong revealed in an interview that the company has launched an internal venture capital program called "Next Bets" to prevent the loss of promising ideas and top talent. The program opens two company-wide proposal drives each year, allowing employees to submit project proposals directly to a review panel composed of product leaders. Projects can proceed as long as they receive funding approval from any of these leaders, similar to an internal venture capital firm. Armstrong stated that the mechanism was inspired by Apple co-founder Steve Wozniak's departure from HP due to a lack of internal support for his ideas, aiming to retain high-potential ideas and talent. "Next Bets" projects are typically driven by small teams of two to three people, with relatively small funding amounts, but focus on high-potential, high-growth innovations.