Coinbase Global Inc. shares faced downward pressure following reports that Chief Executive Officer Brian Armstrong has offloaded more than $500 million in company stock over the last nine months. According to recent Securities and Exchange Commission (SEC) filings, these transactions were primarily conducted under pre-arranged 10b5-1 trading plans, which allow insiders to sell a predetermined number of shares at set times to avoid conflicts of interest. The cumulative value of the sales, reaching approximately $500 million since late last year, has caught the attention of market analysts and investors alike. While it is common for founders of high-growth tech firms to diversify their portfolios, the timing coincides with a period of significant price fluctuations for Coinbase shares and the broader digital asset market. Despite the high-profile sales, Armstrong remains the company’s largest individual shareholder and continues to hold a majority of his original stake. Market observers suggest that while the sell-off may create short-term sentiment headwinds, the long-term outlook for the exchange remains tied to institutional crypto adoption and ongoing regulatory developments in the United States.
Source: Coinbase shares slip as CEO Armstrong’s stock sales top $500 million in nine months
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