Mercato
24h Vol
5963
Cryptocurrencies
46.32%
Bitcoin Condividere

Coinbase insiders dump nearly $5 billion in COIN stock shortly after listing

Coinbase insiders dump nearly $5 billion in COIN stock shortly after listing


CoinTelegraph
2021-04-17 17:31:33

After an edict to remain "mission focused," Coinbase executives have succeeded in making themselves a fortune. Insider activity reports for Coinbase’s COIN stock indicate that multiple early investors and executives sold billions in equity shortly after COIN’s direct listing. While the filings initially indicated that multiple executives sold a high percentage of their stake in the company, a representative for Coinbase told Cointelegraph that the sellers maintain strong ownership positions. Data from Capital Market Laboratories and confirmed by filings on Coinbase’s Investor Relations website shows a total of 12,965,079 shares were sold by insiders, worth over $4.6 billion at COIN’s $344.38 per share Friday close. Notable transactions include Coinbase CFO Alesia Haas selling some 255,500 shares at a price of $388.73 (though her Form 4 states that she retains options), while CEO Brian Armstrong sold 749,999 shares in three transactions at various prices, netting a total of $291,827,966. According to his Form 4 disclosure, after the sale Armstrong retains 300,001 shares worth over $1 billion. In a filing prior to the direct listing however, he was reported to have 36,851,833 shares, indicating that he sold just over 2% of his stake in the company. 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 Capital Market Laboratories' data did not indicate that any directors or insiders purchased additional shares, only sold. The sales can also be seen on OpenInsider's SEC Form 4 screener. A representative for Coinbase told Cointelegraph that the percentage equity share of each executive is not accurately reported by these reporting services, and that the sales represent only a fraction of the executive and insider ownership. The reports prompted jeering and amusement on social media, with many observers likening the sales to a classic “pump and dump” in which insiders and team members dump tokens into retail liquidity shortly after a listing. lolol wtf pic.twitter.com/ezZx5F8ua9— Dereck Coatney (@DereckCoatney) April 17, 2021 While early investors and executives looked to cash in, there are at least a handful of major buyers. Hedge fund manager Cathie Wood is placing a big bet on the exchange, having purchased over $350 million in shares for three different Ark ETFs. Likewise, many Coinbase employees now have stake in the company, as 1,700 Coinbase staff were gifted 100 shares each as a “thank you” from the company. Earlier this year, Coinbase was embroiled in a string of negative headlines relating to CEO Brian Armstrong's handling of a new policy that restricted focus on political and social issues at work. Armstrong insisted that the company remain "mission focused," and the company's mission includes a goal of becoming “the leading global brand for helping people convert digital currency into and out of their local currency.”


Coin Extrude Ecosystem
BITCOIN BLACK COINS
Leggi la dichiarazione di non responsabilità : Tutti i contenuti forniti nel nostro sito Web, i siti con collegamento ipertestuale, le applicazioni associate, i forum, i blog, gli account dei social media e altre piattaforme ("Sito") sono solo per le vostre informazioni generali, procurati da fonti di terze parti. Non rilasciamo alcuna garanzia di alcun tipo in relazione al nostro contenuto, incluso ma non limitato a accuratezza e aggiornamento. Nessuna parte del contenuto che forniamo costituisce consulenza finanziaria, consulenza legale o qualsiasi altra forma di consulenza intesa per la vostra specifica dipendenza per qualsiasi scopo. Qualsiasi uso o affidamento sui nostri contenuti è esclusivamente a proprio rischio e discrezione. Devi condurre la tua ricerca, rivedere, analizzare e verificare i nostri contenuti prima di fare affidamento su di essi. Il trading è un'attività altamente rischiosa che può portare a perdite importanti, pertanto si prega di consultare il proprio consulente finanziario prima di prendere qualsiasi decisione. Nessun contenuto sul nostro sito è pensato per essere una sollecitazione o un'offerta