{"id":229494,"date":"2021-04-17T20:31:33","date_gmt":"2021-04-17T17:31:33","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/coinbase-insiders-dump-nearly-5-billion-in-coin-stock-shortly-after-listing\/"},"modified":"2021-04-17T20:31:33","modified_gmt":"2021-04-17T17:31:33","slug":"coinbase-insiders-dump-nearly-5-billion-in-coin-stock-shortly-after-listing","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/coinbase-insiders-dump-nearly-5-billion-in-coin-stock-shortly-after-listing\/","title":{"rendered":"# Coinbase insiders dump nearly $5 billion in COIN stock shortly after listing"},"content":{"rendered":"<p>&#8220;<strong># Coinbase insiders dump nearly $5 billion in COIN stock shortly after listing <\/strong>&#8221;<br \/>\n<img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDQvN2RjZTMyMDItOWZmNC00NzUzLTg0NTItZGYwODgyNTA3YjU4LmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-5a136f3a>Insider activity reports for Coinbase\u2019s COIN stock indicate that multiple early investors and executives dumped billions in equity shortly after COIN\u2019s direct listing, with at least one C-suite director cashing out their stake in the cryptocurrency exchange entirely.\u00a0<\/p>\n<p>Data <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/aleks.cmlviz.com\/stocks\/COIN\/holders\">from<\/a> Capital Market Laboratories and confirmed by filings on Coinbase\u2019s Investor Relations website shows a total of 12,965,079 shares sold by insiders, worth over $4.6 billion at COIN\u2019s $344.38 per share Friday close. <\/p>\n<p>Notable transactions include Coinbase CFO Alesia Haas <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/d18rn0p25nwr6d.cloudfront.net\/CIK-0001679788\/f5b03a94-1c70-4671-b468-d90dc080b21d.pdf\">selling<\/a> all of her 255,500 shares at a price of $388.73, while CEO Brian Armstrong <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/d18rn0p25nwr6d.cloudfront.net\/CIK-0001679788\/620432fc-5305-43d4-9ad5-7dca027ea10b.pdf\">sold<\/a> 749,999 shares in three transactions at various prices, netting a total of $291,827,966. He retains 300,001 shares worth over $1 billion.\u00a0<\/p>\n<p>Capital Market Laboratories&#8217; data did not indicate that any directors or insiders purchased additional shares, only sold.\u00a0<\/p>\n<p>The sales prompted jeering and amusement on <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">social media<\/a>, with many observers <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/PallerJohn\/status\/1383463183755530252\">likening<\/a> the sales to a classic \u201cpump and dump\u201d\u00a0in which insiders and team members dump tokens into retail liquidity shortly after a listing. <\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">lolol wtf <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/ezZx5F8ua9\">pic.twitter.com\/ezZx5F8ua9<\/a><\/p>\n<p>\u2014 Dereck Coatney (@DereckCoatney) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/DereckCoatney\/status\/1383440872679739394?ref_src=twsrc%5Etfw\">April 17, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>While early investors and executives looked to cash in, there are at least a handful of major buyers. Hedge fund manager Cathie Wood is placing a big bet on the exchange, having purchased over $350 million in shares for three different Ark ETFs.\u00a0<\/p>\n<p>Likewise, many Coinbase employees now have stake in the company, as 1,700 Coinbase staff were gifted 100 shares each as a \u201cthank you\u201d from the company. <\/p>\n<p>Earlier this year, Coinbase was embroiled in a string of negative headlines relating to CEO Brian Armstrong&#8217;s handling of a new policy that restricted focus on political and social issues at work. Armstrong insisted that the company remain &#8220;mission focused,&#8221;\u00a0and the company&#8217;s mission includes a goal of becoming \u201cthe leading global brand for helping people convert digital currency into and out of their local currency.\u201d<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/coinbase-insiders-dump-nearly-5-billion-in-coin-stock-shortly-after-listing\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Coinbase insiders dump nearly $5 billion in COIN stock shortly after listing &#8221; Insider activity reports for Coinbase\u2019s COIN stock indicate that multiple early investors and executives dumped billions in equity shortly after COIN\u2019s direct listing, with at least one C-suite director cashing out their stake in the cryptocurrency exchange entirely.\u00a0 Data from Capital&#8230;<\/p>\n","protected":false},"author":1,"featured_media":229495,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDQvN2RjZTMyMDItOWZmNC00NzUzLTg0NTItZGYwODgyNTA3YjU4LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74957,74956,91283,117],"class_list":["post-229494","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-brian-armstrong","tag-coinbase","tag-pump-and-dump","tag-business"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/229494","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=229494"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/229494\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/229495"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=229494"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=229494"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=229494"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}