Суоснивач Цоинбасе-а Фред Ехрсам је предводио инсајдерску распродају са 91 милиона долара вредних акција ЦОИН-а

Amid crashing crypto prices after the bull run in October and November 2021, US SEC data reveals that Coinbase executives have been on a selling spree over the past three months. Overall, the insiders dumped more than $90 million worth of COIN.

COIN Sell-off By Executives

Према недавном поднеску СЕЦ-у, суоснивач Цоинбасе-а Фред Ехрсам и главни директор производа Суројит Цхаттерјее заједно су продали ЦОИН акције у вредности од преко 40 милиона долара у децембру 2021.

Ехрсам и Цхаттерјее продали су акције у вредности од 31,369,991 долара и 9,007,797 долара, респективно. Главни рачуноводствени директор Џенифер Џонс је продала ЦОИН акције у вредности од 253,606 долара током месеца.

This sell-off is insignificant compared to the overall transactions in Coinbase stocks. However, analysts believe it does indicate dwindling confidence of insiders and early investors in the first publicly traded crypto exchange in the States.

Ehrsam Leads the Sell-off

The documents show that Ehrsam made the largest single sale on November 4 last year, worth over $63 million.

The sell-off by Coinbase insiders has totaled over $331 million in the last three months, while no purchases have been made by them during that period.

The U.S. SEC guideline requires directors, company officers, and shareholders with 10% or more outstanding stock to report their trading details with the regulator.

COIN Stock in Choppy Waters

Since its listing in April 2021, the performance of Coinbase (COIN) stock has been in line with the overall market movements.

According to public data, the newly-listed stock opened at $381, reached a high of $430, and closed its first trading day at $310.

Међутим, до прве недеље маја, пао је испод 300 долара пошто је биткоин почео да пада. Дана 4. маја, акције ЦОИН су отворене на 292 долара, и упркос првобитном порасту, дан су затвориле на 275 долара. Поново је достигао територију од 300 долара 19. октобра, отварајући се на 300 долара и порастао на 308 долара.

Riding the bullish market sentiment in October and November, COIN maintained the $300 territory with a peak on November 9 when it jumped to $369. However, the crypto market correction that started in early December has impacted the shares as well. COIN has spent the majority of its time below $300 and even dropped beneath $240 on January 7.