{"id":112456,"date":"2021-04-19T19:09:17","date_gmt":"2021-04-19T19:09:17","guid":{"rendered":"https:\/\/fin2me.com\/?p=112456"},"modified":"2021-04-19T19:09:17","modified_gmt":"2021-04-19T19:09:17","slug":"coinbase-ceo-cashes-out-290m-on-stocks-opening-day","status":"publish","type":"post","link":"https:\/\/fin2me.com\/markets\/coinbase-ceo-cashes-out-290m-on-stocks-opening-day\/","title":{"rendered":"Coinbase CEO cashes out $290M on stock's opening day"},"content":{"rendered":"

Coinbase IPO ‘monumental moment for the crypto ecosystem’: Blockchain expert<\/h2>\n

Kristin Smith, executive director of the Blockchain Association, weighs in on the Coinbase IPO and cryptocurrencies.\u00a0\u00a0<\/p>\n

Coinbase Global Inc. Chief Executive Brian Armstrong sold almost $290 million worth of company shares following last week’s stock-market debut. <\/p>\n

Armstrong on April 14, the day Coinbase went public, sold a total of 749,999 shares in three separate blocks, according to a U.S. Securities and Exchange Commission filing. The sales were done between the prices of $381 and $410.40 per share. <\/p>\n\n\n\n\n\n
Ticker<\/th>\nSecurity<\/th>\nLast<\/th>\nChange<\/th>\nChange %<\/th>\n<\/tr>\n<\/thead>\n
OIN<\/td>\nn.a.<\/td>\nn.a.<\/td>\nn.a.<\/td>\nn.a.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

The filing suggests Armstrong, who prior to the sales owned almost 40 million shares, or 20% of the company, unloaded about 1.5% of his stake.<\/p>\n

Additionally, early investors including venture capitalists Fred Wilson and Marc Andreessen also used the direct listing as an opportunity to reduce their stakes in the company.<\/p>\n

COINBASE BACKERS INCLUDE MARC ANDREESSEN, RAPPER NAS<\/u><\/strong><\/p>\n

Both Wilson and his firm Union Square Ventures sold 4.7 million shares for proceeds of $1.82 billion, filings showed. Andreessen and other related firms, meanwhile, sold a total of 1.18 million shares worth $449.2 million., various filings showed. <\/p>\n

Coinbase shares opened for trading at $381 apiece and climbed as high as $429.54 before settling at $328.28. The Nasdaq set a reference price of $250. <\/p>\n

CLICK HERE TO READ MORE ON FOX BUSINESS<\/u><\/strong><\/p>\n

At $381 per share, Coinbase was valued at around $100 billion, meaning Armstrong, who at the time owned 20% of the company, was worth about $20 billion.   <\/p>\n

Coinbase shares closed at $342 apiece on Friday, 10% below where they opened for trading. <\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Coinbase IPO ‘monumental moment for the crypto ecosystem’: Blockchain expert Kristin Smith, executive director of the Blockchain Association, weighs in on the Coinbase IPO and […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"\nCoinbase CEO cashes out $290M on stock's opening day - Fin2me<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fin2me.com\/markets\/coinbase-ceo-cashes-out-290m-on-stocks-opening-day\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Coinbase CEO cashes out $290M on stock's opening day - Fin2me\" \/>\n<meta property=\"og:description\" content=\"Coinbase IPO ‘monumental moment for the crypto ecosystem’: Blockchain expert Kristin Smith, executive director of the Blockchain Association, weighs in on the Coinbase IPO and [...]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/fin2me.com\/markets\/coinbase-ceo-cashes-out-290m-on-stocks-opening-day\/\" \/>\n<meta property=\"og:site_name\" content=\"Fin2me\" \/>\n<meta property=\"article:published_time\" content=\"2021-04-19T19:09:17+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/fin2me.com\/wp-content\/uploads\/2018\/07\/QwmmJcQFqNwVkMZDKDnn.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"476\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Mark\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Mark\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/fin2me.com\/markets\/coinbase-ceo-cashes-out-290m-on-stocks-opening-day\/\",\"url\":\"https:\/\/fin2me.com\/markets\/coinbase-ceo-cashes-out-290m-on-stocks-opening-day\/\",\"name\":\"Coinbase CEO cashes out $290M on stock's opening day - 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