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The CEO of Coinbase has sold more stock in his own company than usual the last couple of months: https://www.quiverquant.com/insiders/COIN https://www.quiverqua

The CEO of Coinbase has sold more stock in his own company than usual the last couple of months: https://www.quiverquant.com/insiders/COIN https://www.quiverquant.com/insiders/COIN

yieldcrv 3y ago
Did you also notice that the price is 300% higher over the last couple of months?
- ckardat123 3y ago
  I was speaking of sales in terms of share count, not dollar value.
  - colecut 3y ago
    300% up seems like a good time to sell more than usual
latchkey 3y ago
That mortgage isn't going to pay itself... https://www.wsj.com/amp/articles/crypto-ceo-brian-armstrong-buys-los-angeles-home-for-133-million-11641249787 https://www.wsj.com/amp/articles/crypto-ceo-brian-armstrong-...
kklisura 3y ago
Here's an excerpt from one of the latest reports from SEC [1] about CEO selling stock: > The transactions reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on August 26, 2022, during an open trading window. [1] https://www.sec.gov/Archives/edgar/data/1679788/000120919123042896/xslF345X03/doc4.xml https://www.sec.gov/Archives/edgar/data/1679788/000120919123...
- cma 3y ago
  Up until very recently, CEOs could always plan to sell then cancel or not based on insider information.
zoky 3y ago
Doesn't mean much. With as much SEC scrutiny as the company is currently undergoing, he'd be a fool to run afoul of insider trading laws, which strongly implies that he's not in possession of any material non-public information. Besides, there are lots of reasons to sell, but only one reason to buy. Based on that chart, I'm far more interested in what Fred Ehrsam is thinking…
- itsoktocry 3y ago
  You don't think the CEO of the company has material non-public information???
  - zoky 3y ago
    I think if the CEO of the company has material non-public information and is trading based on it, then there is a 100% chance the SEC, which is already looking closely at the company, will come down hard on him, including disgorgement and massive fines, and even potentially working with the DOJ to file criminal charges and put him in prison—all of which they're dying to do in their effort to assert their authority over cryptocurrency, as Brian Armstrong is acutely aware if he has any attorneys worth half a damn. So I believe he very probably does not currently have any material non-public information, or at the very least is not trading on the basis of having it.
    - slashdev 3y ago
      I think the usual strategy to not run afoul of insider trading laws is to schedule the sales several months in advance.
      - zoky 3y ago
        It is, under rule 10b5-1. But so what? The CEO goes through with a sale of stock that was planned and announced months ago, at a time when he definitively had no material non-public information, and everyone goes shocked Pikachu face? It makes no sense.

The CEO of Coinbase has sold more stock in his own company than usual the last couple of months: https://www.quiverquant.com/insiders/COIN https://www.quiverquant.com/insiders/COIN

yieldcrv 3y ago

Did you also notice that the price is 300% higher over the last couple of months?

ckardat123 3y ago
I was speaking of sales in terms of share count, not dollar value.
- colecut 3y ago
  300% up seems like a good time to sell more than usual

latchkey 3y ago

That mortgage isn't going to pay itself... https://www.wsj.com/amp/articles/crypto-ceo-brian-armstrong-buys-los-angeles-home-for-133-million-11641249787 https://www.wsj.com/amp/articles/crypto-ceo-brian-armstrong-...

kklisura 3y ago

Here's an excerpt from one of the latest reports from SEC [1] about CEO selling stock: > The transactions reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on August 26, 2022, during an open trading window. [1] https://www.sec.gov/Archives/edgar/data/1679788/000120919123042896/xslF345X03/doc4.xml https://www.sec.gov/Archives/edgar/data/1679788/000120919123...

cma 3y ago
Up until very recently, CEOs could always plan to sell then cancel or not based on insider information.

zoky 3y ago

Doesn't mean much. With as much SEC scrutiny as the company is currently undergoing, he'd be a fool to run afoul of insider trading laws, which strongly implies that he's not in possession of any material non-public information. Besides, there are lots of reasons to sell, but only one reason to buy. Based on that chart, I'm far more interested in what Fred Ehrsam is thinking…

itsoktocry 3y ago
You don't think the CEO of the company has material non-public information???
- zoky 3y ago
  I think if the CEO of the company has material non-public information and is trading based on it, then there is a 100% chance the SEC, which is already looking closely at the company, will come down hard on him, including disgorgement and massive fines, and even potentially working with the DOJ to file criminal charges and put him in prison—all of which they're dying to do in their effort to assert their authority over cryptocurrency, as Brian Armstrong is acutely aware if he has any attorneys worth half a damn. So I believe he very probably does not currently have any material non-public information, or at the very least is not trading on the basis of having it.
  - slashdev 3y ago
    I think the usual strategy to not run afoul of insider trading laws is to schedule the sales several months in advance.
    - zoky 3y ago
      It is, under rule 10b5-1. But so what? The CEO goes through with a sale of stock that was planned and announced months ago, at a time when he definitively had no material non-public information, and everyone goes shocked Pikachu face? It makes no sense.