- Fred Ehrsam, co-founder of the cryptocurrency exchange Coinbase, has recently sold shares worth $13.2 million.
- Simultaneously, the company Ark Invest has also been selling off its securities in Coinbase.
- In the period between December 4 and December 12, 2023, Ark Invest sold approximately $75 million worth of Coinbase shares.
Co-founder Fred Ehrsam recently made headlines after selling $13.2 million worth of shares from Coinbase, as reported on Twitter.
According to available information, Ehrsam carried out the sale on December 11, 2023. He sold a total of 97,836 shares for $13.2 million, at a price of $135 per share.
In addition, Ark Invest continues to sell off their Coinbase securities. On December 11, 2023, the company sold 10,933 shares for approximately $1.5 million, at a price of $137 per share.
Earlier, it was reported that Ark Invest had sold 335,860 shares from the ARKW, ARKK, and ARKF funds, generating $49.2 million in revenue.
Analysts point out that between December 4 and December 12, 2023, Coinbase shares worth around $75 million were sold by Ark Invest.
As of now, COIN is valued at $138.5, according to the TradingView portal.
It is worth noting that in November 2023, the price of Coinbase shares reached an 18-month high.