- Armstrong and other executives sold $6.89 million worth of stock
- Brian sold 74,325 shares and three other executives sold 13,733 COIN
According to a report by Dataroma, which tracks portfolios of prominent investors, Coinbase CEO Brian Armstrong along with other top executives sold $6.89 million worth of stock in his company.
In information, Armstrong and three other executives sold 88,058 Coinbase shares in 12 transactions on July 6.
The lion’s share of all shares was sold by Armstrong himself – 74,325 COIN. And General Counsel Paul Grewal, Chief Accountant Jones Jennifer and Director Rajaram Gokul sold 13,733 COINs.
CEO Coinbase is not the first time Coinbase has sold stock in its own company. In April of this year, he made $1.8 million from the sale of 29,730 COINs. In March, he sold 89,196 shares of Coinbase for $5.8 million. And in general, Armstrong has been selling Coinbase stock since November 2022. Also in March, the exchange’s general counsel, Grewal Paul, sold more than $300,000 worth of company stock.
In addition, on March 21, investment firm Ark Invest sold shares of cryptocurrency exchange Coinbase. It happened for the first time since last July. Specifically, the company sold 160,887 shares of COIN for $13.5 million. However, later it bought them back for $18 million.