Just weeks after Coinbase (NASDAQ:), one of the world’s largest cryptocurrency exchanges, reported a net loss of $430 million for Q1 of 2022, reports have surfaced that the exchange’s top executives have unloaded shares worth over $1.2 billion since its public listing.

Coinbase Top Execs Unload COIN

In April 2021, Coinbase announced the company’s public listing, making it the first pure-play crypto trading platform to go public.

Coinbase (COIN), shares went public at $381. COIN shares traded at 75.38 cents per share at the time this article was written, despite hitting record highs of $422. Reports suggest that COIN has seen top executives sell shares valued at over $1.2 million since it was founded in 2021.

A Wall Street Journal analysis revealed that Coinbase’s four top executives were selling shares at prices ranging from $189 to $422.

Report names Co-Founders Brian Armstrong, Fred Ehrsam, Chief Opera Officer Emilie Choi, Chief Product Officer Surojit Chatterjee, and Chief Operating Officer Surojit Chatterjee, among others.

The report shows that Fred Ehrsam sold the most shares, selling close to $500 million worth of shares, and Armstrong had sales worth $292 millions. Choi and Chatterjee have each sold $110 million of shares and $226 million, respectively.

Flipside

• As the share price of Coinbase (COIN) declined, Cathie Wood’s Ark Investment Management bought a combined total of 546,579 shares worth $2.9 million.

What You Need to Care About

Despite offloading shares, a Coinbase spokesperson asserts that the four leaders maintain large positions in the exchange, demonstrating “their commitment to the long-term opportunities” of Coinbase.

Read the article below to learn about Coinbase’s 2022 Q1 report:

Coinbase Reacts to Peter Brandt’s Warning that Users Could Lose All Their

Learn about recent changes to Coinbase App:

Coinbase Increases the Wallet App Features for DeFi First Approach

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