Industry insiders challenge Voorhees ‘cryptocurrency over democracy’ stance

cyptouser8 months ago241
A recent keynote address by American entrepreneur and early Bitcoin adopter Erik Voorhees has ignite...

Coinbase raises USDC interest rate to 5%

cyptouser9 months ago272
Coinbase is now offering up to a 5% interest rate on any USDC held on the exchange, up from the 4% i...

Coinbase, Circle, Aave, and more partner to launch Tokenized Asset Coalition

cyptouser9 months ago242
Coinbase, Circle, Aave, and more partner to launch Tokenized Asset Coalition
The new group, called the Tokenized Asset Coalition, aims to have real-world assets represented and...

Coinbase insiders dump over $30M stocks amid SEC lawsuit, but share value defies odds

cyptouser9 months ago245
Coinbase insiders dump over $30M stocks amid SEC lawsuit, but share value defies odds

Coinbase top executives have sold more than $30 million worth of the company shares since the U.S. Securities and Exchange Commission (SEC) filed a lawsuit against the crypto exchange on June 6, according to Dataroma.

Armstrong lead sales

Coinbase’s co-founder and CEO Brian Armstrong led the sales with 43 transactions between June 5 and August 1. During this period, Armstrong divested $21.17 million worth of COIN stocks.

Armstrong’s timing in selling his shares, including the sale of almost 30,000 shares in eight transactions just a day before the SEC lawsuit, raised eyebrows from the crypto community. Some believed he might have had advance knowledge of the regulatory action.

However, these suspicions were dispelled as the stock sales were revealed to be part of a pre-arranged selling plan dating back to August 2022 and fully complied with the SEC’s Rule 10b5-1.

CryptoSlate reported that Armstrong’s selling trend had begun in November 2022 when he pledged to sell 2% of his stake at the crypto firm to fund scientific research and development through two startups — NewLimit and Research Hub.

Aside from Armstrong, several other top executives, including the firm’s chief accounting officer Jennifer Jones, chief legal officer Paul Grewal, chief people officer Lawrence Brock, and Director Rajaram Gokul, also divested their shares during this timeframe.

Coinbase stocks unaffected

COIN stock remains largely unaffected despite these sales, boasting more than 100% year-to-date increase and a robust 50% gain since the SEC’s lawsuit filing on June 6.

Coinbase insiders dump over $30M stocks amid SEC lawsuit, but share value defies odds
Coinbase top executives have sold more than $30 million worth of the company shares since the U.S. S...

Coinbase Singapore now requires counterparty’s personal information to process transactions

cyptouser9 months ago289
Coinbase Singapore users must provide additional counterparty information when initiating cryptocurr...

Coinbase-backed Base restores block production after more than 40 minutes outage

cyptouser9 months ago231
Coinbase-backed layer2 network Base suffered a temporary outage that led to a stalled block producti...

Coinbase launches institutional lending service

cyptouser9 months ago250
Coinbase is in the process of creating an institutional lending service, according to regulator...

Coinbase raises bond buyback limit to $180M amid a surge in investor interest

cyptouser9 months ago266
Coinbase increased its bond buyback limit to $180 million and extended its deadline to Sept. 18, acc...

Synapse token, TVL slide following major liquidity provider sell-off

cyptouser9 months ago254
Synapse token, TVL slide following major liquidity provider sell-off
Synapse Labs, the main contributor to the cross-chain bridge Synapse (SYN), confirmed that an unname...

Women hold just 6% of crypto CEO roles highlighting gap in leadership

cyptouser9 months ago252
A new report reveals women are vastly underrepresented in leadership positions across the...