Code Red! 4 Top Executives 'Drop' Coinbase Shares!

<p>&nbsp;"Haduii pedh mat, will the price of COIN fall again after this?'</p><p><br /></p><p>Four top executives at the giant cryptocurrency exchange Coinbase including Chief Executive Officer (CEO) Brian Armstrong sold a large amount of his company's COIN shares while they were still grappling with regulatory scrutiny.</p><p><br /></p><p>Reportedly, a Form 4 filing submitted to the Securities and Exchange Commission (SEC) revealed the sale of shares was made by several Coinbase executives, among them Armstrong, Chief Legal Officer (CLO) Paul Grewal and Chief Accounting Officer (CAO) Jonnes Jennifer N.</p><p><br /></p><p>In addition to selling $2.6 million worth of stock on May 25, 2023, Armstrong this week also sold over $5.8 million worth of stock, his biggest sale yet.</p><p><br /></p><p><br /></p><p>Not only that, he also intends to sell 2% of COIN shares over the next year, including plans to fund science and technology development through a co-founded company called NewLimit and ResearchHub.</p><p><br /></p><p>In the wake of a shareholder lawsuit accusing Coinbase's CEO and investors of dumping its stock to avoid big losses in 2021, there have been several reports of the exchange's executives selling their shares.</p><p><br /></p><p>It is undeniable that sentiment among investors is growing positive as COIN shares have rallied more than 125% this year, but regulatory pressure and volatile trading volumes in the crypto market have raised concerns about the stock's future performance.</p><p><br /></p><p>COIN shares, which are currently priced at $78.72, have seen gains of 30.57% over the past year, however the SEC recently alleged that Coinbase was offering some unregistered securities.</p><p><br /></p><p>Please note that the COIN share price jumped by 12% when BlackRock updated its Bitcoin (BTC) ETF via Nasdaq and Coinbase.</p>