Coinbase CEO sells nearly $300 million worth of shares
Coinbase became one of the most valuable cryptocurrency companies this week after listing on the NASDAQ stock exchange. The company executives made a fortune for themselves after selling some of their shares worth nearly $5 billion.The CEO, Brian Armstrong, sold 749,999 shares in three batches. According to the SEC filing on Friday, he sold the shares at prices ranging from $381 to $410.40 for total proceeds of $291.8 million.
According to the filing, Armstrong sold only 1.5% of his stake as he currently controls billions of dollars worth of Coinbase shares. The lion's share of the sales came from Coinbase director and venture capitalist Frederick Wilson who parted with 4.70 million shares for proceeds of $1.82 billion.
Data from Capital Market Laboratories shows that insiders at Coinbase sold a total of 12,965,079 shares, totaling over $4.6 billion at COIN's $344.38 per share Friday close. The surprising statistic came from CFO Alesia Haas, who sold 255,500 shares at a price of $388.73. The CFO sold 100% of her shares in Coinbase, but the filing shows that she retained the options. Furthermore, the CPO also sold 97% of his shares in the company a few days after it was listed on the stock exchange.
Software engineer and venture capitalist Marc Andreessen is another Coinbase director that sold some of his shares. Andreessen Horowitz and two associated companies sold a total of 1.18 million shares for $449.2 million.
Coinbase insiders only sold 10% of their total shares
The news that Coinbase insiders sold nearly $5 billion of their shares created some negative rumors within the cryptocurrency space. Meltem Demirors of CoinShares clarified that the insiders sold less than 10% of their shares.She tweeted
this is making the rounds and is so misleading - details matter!
each of these execs have tons of unvested options that account for the majority of their holdings - in reality they’ve each sold less than 10% of their total shares https://t.co/LP4uKK1Nuq— Meltem Demirors (@Melt_Dem) April 17, 2021
The crypto exchange went public via a direct listing and not via an initial public offering (IPO). The purpose of a direct listing is for shares to change hands from existing shareholders to new investors. Hence, the only way there is liquidity on that stock to be bought is by existing shareholders selling. Hence, the reason why the existing shareholders sold some of their stocks.
Continue reading by joining Cryptonary Pro
$1,548 $997/year
Get everything you need to actively manage your portfolio and stay ahead. Ideal for investors seeking regular guidance and access to tools that help make informed decisions.
For your security, all orders are processed on a secured server.
As a Cryptonary Pro subscriber, you also get:
24/7 access to experts with 50+ years’ experience Terms
All of our top token picks for 2025
On hand technical analysis on any token of your choice
Weekly livestreams & ask us anything with the team
Daily insights on Macro, Mechanics, and On-chain
Curated list of top upcoming airdrops (free money)
Our track record speaks for itself
With over 2.4M tokens and widespread misinformation in crypto, we cut through the noise and consistently find winning assets.
Our track record speaks for itself
With over 2.4M tokens and widespread misinformation in crypto, we cut
through the noise and consistently find winning assets.
Frequently Asked Questions
Can I trust Cryptonary's calls?
Yes. We've consistently identified winners across multiple cycles. Bitcoin under $1,000, Ethereum under $70, Solana under $10, WIF from $0.003 to $5, PopCat from $0.004 to $2, SPX blasting past $1.70, and our latest pick has already 200X'd since June 2025. Everything is timestamped and public record.
Do I need to be an experienced trader or investor to benefit?
No. When we founded Cryptonary in 2017 the market was new to everyone. We intentionally created content that was easy to understand and actionable. That foundational principle is the crux of Cryptonary. Taking complex ideas and opportunities and presenting them in a way a 10 year old could understand.
What makes Cryptonary different from free crypto content on YouTube or Twitter?
Signal vs noise. We filter out 99.9% of garbage projects, provide data backed analysis, and have a proven track record of finding winners. Not to mention since Cryptonary's inception in 2017 we have never taken investment, sponsorship or partnership. Compare this to pretty much everyone else, no track record, and a long list of partnerships that cloud judgements.
Why is there no trial or refund policy?
We share highly sensitive, time-critical research. Once it's out, it can't be "returned." That's why membership is annual only. Crypto success takes time and commitment. If someone is not willing to invest 12 months into their future, there is no place for them at Cryptonary.
Do I get direct access to the Cryptonary team?
Yes. You will have 24/7 to the team that bought you BTC at $1,000, ETH at $70, and SOL at $10. Through our community chats, live Q&As, and member only channels, you can ask questions and interact directly with the team. Our team has over 50 years of combined experience which you can tap into every single day.
How often is content updated?
Daily. We provide real-time updates, weekly reports, emergency alerts, and live Q&As when the markets move fast. In crypto, the market moves fast, in Cryptonary, we move faster.
Recommended from Cryptonary
