Coinbase (COIN) CEO Brian Armstrong Dumped $292 Million of His Stock on Market Debut

April 19, 2021 7:12 AM EDT
Get Alerts COIN Hot Sheet
Price: $258.37 -2.54%

Overall Analyst Rating:
    BUY (= Flat)

Trade Now! 
Join SI Premium – FREE

Get inside Wall Street with StreetInsider Premium. Claim your 1-week free trial here.

Brian Armstrong the Chief Executive and co-founder of Coinbase (NASDAQ: COIN) inked nearly $292 million from selling a portion of his stake on Wednesday when the company made its much-awaited stock market debut.

The filings made with the U.S. Securities and Exchange Commission (SEC) show that Armstrong sold 749,999 shares in three separate trades to ink $291.8 million.

Armstrong sold the first batch at the opening price of $381, the second at $391.1, and the final batch at the opening price of $410.4. The largest batch of shares (466,665) at $381. It is estimated that his stake in COIN is worth about $13 billion.

The cryptocurrency media outlet Coindesk reported over the weekend that Coinbase shareholders and early investors sold about $5 billion in shares during the company’s stock market debut.

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Hot Insider Trades, Insider Trades, Trader Talk