Read

Fred Ehrsam, co-founder of the Coinbase cryptocurrency exchange, sold $13 million worth of company shares. 
Ehrsam, who owns 10% of the company, sold shares at $130.40 cashing out $12,276,105 on Dec. 11, according to Insider Tracker. 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
 https://twitter.com/trackinsiders_/status/1734328411407958355 
 </div>
</figure> 
The latest deal marks another major sale in recent weeks. Before this, Cathie Wood’s investment firm <a href="https://crypto.news/tag/ARK/">ARK Invest</a> <a href="https://cathiesark.com/ark-funds-combined/trades" target="_blank" rel="noopener">conducted</a> a series of sales. On Dec. 8, the firm sold&nbsp;335,860 <a href="https://crypto.news/tag/coinbase/">Coinbase</a> shares from three funds – ARKW, ARKK, and ARKF. The deal brought the company $49.2 million. The shares were sold for $146.4 each. 
It is noteworthy that the sharp sale of shares began in mid-November. Since then, investors have carried out a series of significant sales, with increased activity late last month. The number of transactions increased amid growth in the company’s shares. Over the past month, they <a href="https://crypto.news/coinbase-shares-surge-to-reach-18-month-high/">have risen</a> in price from $92 to $138 at the time of writing. 
Analyst Peter Brandt <a href="https://crypto.news/popular-crypto-analyst-reveals-forecast-for-coinbase-shares/">was</a> also bullish on Coinbase. At the end of November, he predicted the company’s shares would increase. 
 Read more: <a href="https://crypto.news/ark-invest-sells-33m-in-coinbase-shares-5-9m-in-gbtc/"> ARK Invest sells $33m in Coinbase shares, $5.9m in GBTC </a>

Coinbase co-founder sells another $13m in shares

crypto.news

Other articles published on Dec 12, 2023

How to Find the Best New Crypto Coins

Regulatory Approval Granted for El Salvador's Bitcoin Bond

Bitcoin Exchange Binance Announces It Will Support Network Upgrade and Hard Fork of This Altcoin!

Solana’s Bonk, Avax leads gain amid high selling pressure

Growing Momentum: Will Cardano Break the $0.60 Barrier? NuggetRush Becomes December’s Best ICO

Goldman Sachs Forecasts Mid-2024 for Potential Fed Interest Rate Cuts Amidst Fluctuating Market C...

Join our free newsletter for daily crypto updates!