Four Coinbase Executives Combined Unload More Than $1B Worth of Shares

  • Four of Coinbase Global’s leaders have collectively reaped more than $1B by selling shares since the cryptocurrency exchange listed its shares for public trading last spring, according to analysis of regulatory filings by the.
  • During the same period the company’s shares have dropped by 82%. The four executives – co-founders Brian Armstrong and Fred Ehrsam, along with President and Chief Operating Officer Emilie Choi and Chief Product Officer Surojit Chatterjee – received proceeds that totaled ~$1.2B from stock sales on the day Coinbase shares began trading through February 2022, the WSJ said.
  • According to the Journal’s analysis: Armstrong and his living trust sold shares for total proceeds of $292M; he still holds a controlling stake with 59.5% of voting power, according to the company’s proxy filing in April; Choi exercised options at a cost of $9.7M and sold shares for total proceeds of $226M; Chatterjee exercised options at a cost of $6M and sold shares for total proceeds of $110M; and Ehrsam received almost $500M in stock sales during the period.
[Via]

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