Coinbase Executives Sell Shares Despite the Rising Stock Value and Legal Action

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Senior executives at cryptocurrency exchange Coinbase, including CEO Brian Armstrong, have been selling their shares in the company despite its stock value growing by 50% over the last month to hit $78.7 on 7 July. Armstrong and colleagues sold 88,058 shares between them, worth $6.9m at a time when Coinbase is the topic of legal action in the US over securities violations. In the past six months, the value of the shares has risen 133%. However, Cathie Wood’s investment company Ark Invest has been holding its 400,000 shares since purchasing them in early June.