COIN stocks had recovered in Oct-Nov riding on bullish market trends but have fallen significantly in Dec and Jan, so far.
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.with the SEC, Coinbase co-founder Fred Ehrsam and Chief Product Officer Surojit Chatterjee together sold COIN stocks worth over $40 million in December 2021.
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.The documents show that Ehrsam made the largest single sale on November 4 last year, worth over $63 million.
According to public data, the newly-listed stock opened at $381, reached a high of $430, and closed its first trading day at $310.
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