Coinbase insiders plan to sell over $900 million worth of stock

2024-11-04 17:23:58

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According to ChainCatcher news and Barron's, recently, Coinbase's global executives and directors approved a trading plan to sell shares of the cryptocurrency exchange platform worth over $900 million. Among them, three Coinbase executives and two directors will sell up to 5 million shares. Based on Friday's closing price of $182.88, these shares are valued at a total of $909 million. Company insiders adopt such plans to avoid being accused of bias due to possessing non-public information. The plan will automatically execute trades when specific conditions such as price, trading volume, and time are met. Coinbase disclosed the adoption of these trading plans in a filing submitted to the Securities and Exchange Commission on October 30. The plan is expected to start on November 18 and end no later than November 14, 2025.

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