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CoinDesk Consensus

Coinbase Insiders – Including CEO Brian Armstrong and Other Executives – Are sold Dataroma said its stock was worth $7.4 million over the past 30 days. data.

Coinbase CEO sells $5.8 million stake

Brian Armstrong sold $5.8 million in COIN shares during the period. Almost 50% sold in the last 24 hours. Data show that Armstrong sold about 30,000 shares on March 21 for $2.24 million.

His other sales took place on March 3 and 15, selling about 60,000 shares for $3.56 million. According to data, Armstrong sold his shares when he traded between $51 and $76.

October 2022, Armstrong pledged Selling a 2% stake in a US-based cryptocurrency exchange. He said the proceeds will fund scientific research and development through his two startups, NewLimit and Research Hub.

Meanwhile, other Coinbase executives (including Chief Human Resources Officer Brock Lawrence, Chief Accounting Officer Jones Jennifer, and Chief Legal Officer Grewal Paul) have collectively sold shares worth $1.68 million. bottom.

Coinbase Insiders Earned Over $5 Billion From Stock Sales

According to Dataroma data, Coinbase insiders and early investors have collectively earned $5.8 billion selling shares in the exchange.

According to data, $5 billion of those trades were made on Coinbase’s first day of listing. At the time, Armstrong sold his 749,999 shares for $291.8 million and didn’t sell until after the October 2022 announcement.

Coinbase insiders, on the other hand, only bought $86.9 million worth of the company’s stock.I bought make By Tobias Lütke, director of the exchange, and co-founder Fred Ehrsam.

Investment funds like Cathie Wood’s Ark Invest are among the heavy traders in the company’s stock. For context, the company purchased more than 350,000 shares in early March for $22 million.office sold On March 21st, we took a portion of our $13.5 million holding for the first time this year.

coinbase stock price performance

After peaking at around $350 when the company went public in 2021, the value of COIN dropped more than 86% in 2022 after a crypto winter that negatively impacted the market.

However, according to TradingView, the recovery in the crypto market this year has seen COIN’s value rise nearly 150% in year-to-date indicators, but is still down 54% in the past 12 months. data.

coinbase inventory
Source: Trading View

Coinbase stock price fell 0.57% today to $83.51.cryptocurrency exchange announced It also revealed that it has expanded to Brazil and tested OpenAI’s ChatGPT tool for blockchain security processes.

By Jules

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