Coinbase insiders sold over $120m worth of COIN in December alone, data shows

Coinbase co-founder Ehrsam Frederick Ernest III appears to be the most active seller of COIN shares in December, according to Insider Alerts data.

December appears to be the most active month for Coinbase insiders selling shares, with a total USD volume of more than $120 million, as per data collected by Insider Alerts. During the last month of the year, Coinbase co-founder Ehrsam Frederick Ernest III dumped over 450,000 shares in multiple transactions, with the largest one being 114,142 shares for $14.9 million.

You might also like: ARK Invest continues Coinbase sell-off, surpassing $200m in December sales

Coinbase CPO Lawrence J Brock also sold a total of 104,767 COIN shares in one transaction for $18.3 million in December. Coinbase founder and CEO Brian Armstrong appears to be the third most active seller during the last month of the year, selling 146,150 shares in multiple transactions for a total of $21.6 million.

Coinbase insiders sold over $120m worth of COIN in December alone, data shows - 1
Coinbase executives selling and buying COIN shares in 2023 | Source: Insider Alerts

Additional data indicates that various other Coinbase executives, including Coinbase CFO Alesia J. Haas, Coinbase Director Rajaram Gokul, Coinbase COO Choi Emilie, among others, have collectively offloaded millions of dollars’ worth of shares in December.

Coinbase insiders sold over $120m worth of COIN in December alone, data shows - 2
COIN share price in USD | Source: Google Finance

The selling spree coincided with COIN’s price reaching $185.2, marking a 450% increase year-to-date, as per Google Finance. Despite this surge, the shares remain below their all-time high of $342.9, reached two years ago, in November 2021.

Read more: Crypto exchange Coinbase to reorganize priorities in 2024 to work ‘more efficiently’
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