Insider Data Reveals Stock Sale Transactions By Coinbase Execs

Amid the lawsuit against crypto exchange Coinbase by the US Securities and exchange commission (SEC), insider transaction data shows that the company’s top leadership have been selling Coinbase stocks worth $30.95 million. However, it it is unsure if the stock sales were directly linked to the SEC lawsuit impact or were initiated prior to the lawsuit filing on June 6, 2023.

Also Read: ETH Price $1,630 Support On The Line, Time To Buy Or Sell Ether?

CEO Brian Armstrong Sold Most Shares

According to the real time insider transaction data from Dataroma, some of the top executives at the crypto exchange, including CEO Brian Armstrong and chief legal officer Paul Grewal, initiated as many as 53 sale transactions worth over $30 million. These Coinbase stock sale transactions were carried out between 20 June 2023 and September 1, 2023, whereas the SEC lawsuit was filed on June 6, 2023. In a transaction as recent as September 1, 2023, Brock Lawrence, the company’s chief people officer, sold over 19,000 shares.

The SEC had in the lawsuit charged Coinbase with operating the crypto trading platform as an unregistered national securities exchange, broker, and clearing agency. The complaint argued that the exchange had since at least 2019 unlawfully facilitated the buying and selling of crypto asset securities and made billions of dollars.

What Next In US SEC Vs Coinbase Lawsuit

In a positive development for the crypto community, judge Katherine Polk Failla of the Southern District of New York had dismissed a class action lawsuit against Uniswap. The Uniswap protocol was accused of conducting securities sales in the name of digital tokens. Stressing on the decentralized structure of the Uniswap protocol, the judge highlighted the absence of identifiable defendants in the case. Interestingly, Failla is the same judge overseeing the case between the US SEC and Coinbase.

Also Read: Binance Executives Exodus Creates Opportunity For Law Enforcement, Says Ex-SEC Official

TAGS
Coinbase

Recommended
Price Analysis

Best Crypto Presales To Invest In September 2025 – Top Upcoming Presale Tokens

Best Crypto AI Trading Bots In 2025

Top Meme Coins To Buy In September 2025

Anvesh Reddy

Anvesh reports major crypto updates around U.S. regulation and market moving trends. Published over 1400 articles so far on crypto and blockchain. A proud dropout of University of Massachusetts, Lowell. Can be reached at [email protected] or x.com/BitcoinReddy or linkedin.com/in/anveshreddybtc/

Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.

Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.