Cathie Wood’s ARK sells 135K Coinbase shares as price hits $90
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Pro-Bitcoin (
Multiple Coinbase executives, including CEO Brian Armstrong, have been selling their shares as the price rallied in recent months. On July 6, Armstrong and several other senior Coinbase execs sold a combined total of 88,058 shares worth about $6.9 million at the time. Previously, Coinbase chief accounting officer Jennifer Jones also offloaded 74,375 shares on June 29, netting $5.2 million.
The rise of Coinbase stock comes despite the exchange facing a securities violation lawsuit from the United States Securities and Exchange Commission. The growth could be primarily attributed to a fear of missing out on the BlackRock spot Bitcoin ETF filing, which named Coinbase a “surveillance-sharing” partner.
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