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This is apparently only 1.5% of his holdings. [1] [1] https://www.coindesk.com/coinbase-ceo-sold-291-8m-in-shares-on-opening-day https://www.coindesk.com/coinb

by erentz 6y ago

This is apparently only 1.5% of his holdings. [1] [1] https://www.coindesk.com/coinbase-ceo-sold-291-8m-in-shares-on-opening-day https://www.coindesk.com/coinbase-ceo-sold-291-8m-in-shares-...

smnscu 6y ago
Unless my math is off, that would put his net worth in the $10-20B bracket. That is positively insane.
- ignoramous 6y ago
  And he and Coinbase are barely scratching the surface if crypto / web3 is truly in its nascent stages as claimed.
- AJRF 6y ago
  I agree. Coinbase is the trusted inlet to trading crypto for individual investors. One of the blockchains, Bitcoin, has a 1 trillion dollar market cap, and the next largest has 259 bn. And coinbase captures a fee of some large percentage of transactions on those. He should be worth much more.
  - consp 6y ago
    I would really like to know how much of the bitcoin trading is bubble and/or unbacked money printing by a certain coin, and what parts is actual value. There is way too much shady stuff going on to get my involvement.
    - theelous3 6y ago
      > bitcoin [...] actual value lol The only part of crypto that isn't bubble, is the slice used for drug trading. It's been eleven years and there are still no usecases for any of them.
      - Fnoord 6y ago
        Crime in general, including money laundering, or having a currency which is more stable than your own (hello Venezuela). I don't see a valid use-case in the West.
ac29 6y ago
The chart in this tweet shows him as having sold 71% of his shares: https://twitter.com/PeterSchiff/status/1383792715360399372 https://twitter.com/PeterSchiff/status/1383792715360399372 Some folks are counting un-exercised options as shares to make it sound like insiders sold less than they actually did, but you cant sell shares you dont own.
- berberous 6y ago
  He could exercise and then sell his options, most of which are probably vested. It’s absolutely logical to count the unexercised vested options, and extraordinarily misleading not to. The CFO exercised 20% of her options and then sold those shares, which the chart then spins as her selling 100%.

by erentz 6y ago

This is apparently only 1.5% of his holdings. [1] [1] https://www.coindesk.com/coinbase-ceo-sold-291-8m-in-shares-on-opening-day https://www.coindesk.com/coinbase-ceo-sold-291-8m-in-shares-...

smnscu 6y ago

Unless my math is off, that would put his net worth in the $10-20B bracket. That is positively insane.

ignoramous 6y ago
And he and Coinbase are barely scratching the surface if crypto / web3 is truly in its nascent stages as claimed.
AJRF 6y ago
I agree. Coinbase is the trusted inlet to trading crypto for individual investors. One of the blockchains, Bitcoin, has a 1 trillion dollar market cap, and the next largest has 259 bn. And coinbase captures a fee of some large percentage of transactions on those. He should be worth much more.
- consp 6y ago
  I would really like to know how much of the bitcoin trading is bubble and/or unbacked money printing by a certain coin, and what parts is actual value. There is way too much shady stuff going on to get my involvement.
  - theelous3 6y ago
    > bitcoin [...] actual value lol The only part of crypto that isn't bubble, is the slice used for drug trading. It's been eleven years and there are still no usecases for any of them.
    - Fnoord 6y ago
      Crime in general, including money laundering, or having a currency which is more stable than your own (hello Venezuela). I don't see a valid use-case in the West.

ac29 6y ago

The chart in this tweet shows him as having sold 71% of his shares: https://twitter.com/PeterSchiff/status/1383792715360399372 https://twitter.com/PeterSchiff/status/1383792715360399372 Some folks are counting un-exercised options as shares to make it sound like insiders sold less than they actually did, but you cant sell shares you dont own.

berberous 6y ago
He could exercise and then sell his options, most of which are probably vested. It’s absolutely logical to count the unexercised vested options, and extraordinarily misleading not to. The CFO exercised 20% of her options and then sold those shares, which the chart then spins as her selling 100%.