Coinbase CEO Sells $ 291.8 Million Stock On First Day Of Trading
According to regulatory filings, Coinbase (COIN.O) CEO Brian Armstrong sold about $ 292 million stock during the first day of trading on the Nasdaq crypto exchange last week.
Armstrong sold 749,999 shares in three batches at prices ranging from $ 381 to $ 410.40 per share for a total of $ 291.8 million, according to data filed with the US Securities and Exchange Commission.
Blockchain and cryptocurrency website Coindesk reported over the weekend that Coinbase stakeholders and investors sold a total of about $ 5 billion in shares during the first day of trading.
Coinbase Global Inc went public as a result of its high-profile debut on the Nasdaq, which briefly valued it at over $ 100 billion.