Buy $GGsInsider Data Reveals Coinbase Stock Sale Transactions By Top 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
Play 10,000+ Casino Games at BC Game with Ease
- Instant Deposits And Withdrawals
- Crypto Casino And Sports Betting
- Exclusive Bonuses And Rewards
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal 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.
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- US-Iran War: Reports Confirm Bombings In UAE, Bahrain and Kuwait As Crypto Market Makes Recovery
- XRP Price Dips on US-Iran Conflict, But Capitulation Signals March Rebound
- Crypto Market at Risk as U.S.–Iran War Threatens Inflation With Oil Price Surge
- Polymarket U.S.–Iran Strike Bets Fuel Insider Trading Speculation as Crypto Traders Net $1.2M
- Cardano’s DeFi TVL Climbs as USDCx Stablecoin Launches on Network
- Top Analyst Predicts Pi Network Price Bottom, Flags Key Catalysts
- Will Ethereum Price Hold $1,900 Level After Five Weeks of $563M ETF Selling?
- Top 2 Price Predictions Ethereum and Solana Ahead of March 1 Clarity Act Stablecoin Deadline
- Pi Network Price Prediction Ahead of Protocol Upgrades Deadline on March 1
- XRP Price Outlook As Jane Street Lawsuit Sparks Shift in Morning Sell-Off Trend
- Dogecoin, Cardano, and Chainlink Price Prediction As Crypto Market Rebounds
