Massive Drop In Coinbase’s Value, CEO Sells More Than 30,000 Class A Shares

The post <strong>Massive Drop In Coinbase’s Value, CEO Sells More Than 30,000 Class A Shares</strong> appeared first on Coinpedia Fintech News

As per the filings at the US Securities and Exchange Commission, on Nov 11 Coinbase CEO Brian Armstrong has dumped more than 30,000 Class A shares of Coinbase shares for $1.6 million. Just not that, Armstrong has also converted Class B shares into Class A shares.

In April 2021 when Coinbase went public, the firm’s shares were selling around $340 and today it is closed at $55.53. The reason for this is the drop in the crypto market which has resulted in decreased value of Coinbase in the past one year along with many other assets.