Crypto Live News
As per the filings at the US Securities and Exchange Commission, on Nov 11 Coinbase CEO Brian Armstrong has dumped more than 30,000 Class A shares of Coinbase shares for $1.6 million. Just not that, Armstrong has also converted Class B shares into Class A shares.
In April 2021 when Coinbase went public, the firm’s shares were selling around $340 and today it is closed at $55.53. The reason for this is the drop in the crypto market which has resulted in decreased value of Coinbase in the past one year along with many other assets.
Source: https://coinpedia.org/crypto-live-news/massive-drop-in-coinbases-value-ceo-sells-more-than-30000-class-a-shares/