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International Business Times
International Business Times
Business
Nica Osorio

Coinbase Founders, Top Execs Lead COIN Shares Sell Off Ahead Of Spot Bitcoin ETF Deadline

COIN Coinbase Bitcoin ETF Brian Armstrong SEC

KEY POINTS

  • Coinbase co-founder Ernest offloaded more than 450,000 shares in several transactions this month
  • Coinbase CEO Armstrong offloaded 146,150 shares for a total amount of $21.6 million
  • Coinbase Chief People Officer Brock Lawrence also sold some 104,767 COIN shares worth $18.3 million

Ehrsam Frederick Ernest III and Brian Armstrong, the founders of Coinbase, the world's largest centralized crypto exchange by trading volume, along with some of its top executives, led the massive sell-off of the company's stock COIN. The sale generated more than $120 million this month alone.

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