A Coinbase spokesperson asserted that the four top leaders maintain large positions in the exchange, demonstrating “their commitment to the long-term opportunities.”
Co-founders Brian Armstrong and Fred Ehrsam, President and Chief Operating Officer Emilie Choi, and Chief Product Officer Surojit Chatterjee have jointly raked in approximately $1.2 billion in proceeds from stock sales after going public earlier this year.
Coinbase officials Pocket Over $1 billion
As per a Wall Street Journal’s analysis of regulatory filings, this was around the same period when the San Francisco-based company’s shares witnessed an 80% decline. The four top Coinbase leaders reportedly sold the shares at prices anywhere between $189 to $422. On its first day of trading, Coinbase’s opening price was $381. At the time of this writing, the stock is trading at around $75.
WSJ revealed that Armstrong and his living trust sold shares for total proceeds of $292 million. With a little over 59% of voting p
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