According to a recent report, four of the leading executives of the giant Bitcoin exchange Coinbase have sold shares worth over $1 billion.
Coinbase executives have sold over $1 billion in shares since February
Analyzing regulatory filings from Coinbase, four of the company’s key executives have earned $1.2 billion from stock sales since February. Has detected. According to the report:
- Co-founder and CEO Brian Armstrong sold shares for $292 million.
- COO Emilie Choi exercised options at a cost of $9.7 million and sold her shares for $226 million.
- Co-founder Fred Ehrsam sold the most shares, making about $500 million in shares.
- CPO Surojit Chatterjee exercised options at a cost of $6 million and earned $110 million by selling shares.
It seems that each individual still owns shares of the company. A Coinbase representative said executives “remain major positions at the company, reflecting their commitment to our long-term opportunities.” Notably, Ehrsam has repurchased $75 million worth of Coinbase shares this month, even as prices plummeted.
Bitcoin falls, will Coinbase (COIN) share price rise?
Coinbase share (COIN) is worth $75.32 as of Wednesday, May 26. That price is close to this month’s low of $53.72. While executive sales have occurred while the stock is at a slightly higher value, falling prices appear to have motivated at least some of the sales. The company’s stock opened at $381 in April 2021, with Coinbase executives selling at prices between $189 and $422.
Coinbase is a safe and secure cryptocurrency exchange based in the USA, founded in 2012. The company shares are listed on the Nasdaq stock exchange with the code COIN. Coinbase appeals to more than 56 million users in more than 100 countries around the world. As we mentioned in the news of Kriptokoin.com, the giant Bitcoin exchange recently announced that the Sandbox (SAND) token has been listed. The SAND price started to rise in a short time after this announcement.
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