2023-06-09
On June 5, Brian Armstrong the founder of Coinbase sold 29,730 shares worth $1.745 million. Coinbase shares were trading at $58.71 per share on June 5. Therefore, he made $1.745 million from this round of selling.
Brian Armstrong has been selling his Coinbase
stock since the company went public.
SEC filed a lawsuit against Coinbase on June 6
and alleged Coinbase for selling tokens that are securities which against the
laws. Brian Armstrong said in an interview with the Wall Street Journal that he will go
to court to fight the case.
SEC filed lawsuit against Coinbase does not
significantly affect Coinbase stock price because the stock
price was already near its all-time low.Coinbase stock were trading between $54-$70
before the lawsut. On June 8 Coinbase share price was $54.90 per share.
