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

Author: Delma Wilson

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Delma is a B2B Content Marketer, Consultant, Blogger in the field of Blockchain, and Cryptocurrency. In her spare time, she loves to blog, play badminton and watch out ted talks. She likes pets and shares her free time with NGO.

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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.

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