Coinbase CEO Brian Armstrong sold 749,999 shares in three lots on the first day of trading on the Nasdaq.
As a reminder, Coinbase entered the stock market on April 14. According to the Securities and Exchange Commission (SEC), on the first day of trading, insiders, together with investors, sold shares of the crypto exchange for $ 5 billion.
Brian Armstrong himself sold securities at prices ranging from $ 381 to $ 410 apiece. The total amount of his proceeds from this transaction was $ 291.8 million.
Representatives of the crypto company declined to comment on the information received from the media.
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The journalists also found out that one of the investors, Frederick Wilson, sold 4.7 million shares, earning $ 1.82 billion on the deal. However, it is not yet known exactly what share of the shares in Coinbase this financier owns.
Another investor, Mark Andreessen, raised $ 498.2 million by selling 11.8 million shares. The crypto company capitalization is about $ 63.6 billion.
Recall that on the eve of the IPO, the Coinbase administration published financial statements for the first quarter of 2021, from which it follows that the company's total revenue for three months amounted to $ 1.8 billion.