Coinbase Insiders Sold $331M Of Shares Over The Last 3 Months

Coinbase Global Inc COIN executives have sold $331 million worth of Coinbase shares in the last few months, according to recent SEC filings.

What Happened: Data from the U.S. Securities and Exchange Commission revealed that a few executives at the crypto exchange have been on a share-selling spree since November 2021.

Co-founder Fred Ehrsam sold shares worth $31,369,99 and Chief Product Officer Surojit Chatterjee sold shares worth $9,007,797 in December 2021 alone.

Ehrsam’s single largest share sale, however, took place on Nov. 4, 2021, when the co-founder sold $63 million worth of shares.

Chief Accounting Officer Jennifer Jones also sold shares worth $253,606 in December.

The crypto exchange made headlines shortly after it went public in April 2021 after numerous executives were observed selling over $4.6 billion worth of shares.

Included in this list was Coinbase CEO Brian Armstrong who sold 749,999 of his shares worth over $291 million at the time. Armstrong recently acquired a 19,000-square-foot mansion in Los Angeles worth $133 million in what was reportedly the highest-value home purchase in the area to date.

Price Action: Coinbase shares were down 9.16% in the last month. The stock traded at $232.33 during Monday’s pre-market session.

Related Link: What Is Coinbase Doing That Caused BofA To Upgrade The Stock?