Coinbase CEO Brian Armstrong sells more than $1.6 million in shares

Quick Take

  • Brian Armstrong sold Class A Coinbase shares, according to a regulatory filing.

Coinbase CEO Brian Armstrong sold 29,000 Class A Coinbase shares for $1.6 million on Nov. 11, according to a filing with the U.S. Securities and Exchange Commission reported by Coinbase. 

He also converted Class B shares into Class A shares. 

“As Brian disclosed on Twitter last month, he plans to sell about 2% of his Coinbase holdings over the next year to fund scientific research," the company said in a statement. "This sale timing is unrelated to recent market events, and follows a standard, pre-scheduled 10b5-1 plan, as we have previously discussed on our blog.” 


Keep up with the latest news, trends, charts and views on crypto and DeFi with a new biweekly newsletter from The Block's Frank Chaparro

By signing-up you agree to our Terms of Service and Privacy Policy
By signing-up you agree to our Terms of Service and Privacy Policy

Coinbase shares were trading over $340 when the company first went public in April 2021. They closed today at $55.53 as crypto prices have shed their value over the past year, alongside many traditional assets.

Correction: Updates story to reflect the correct number of shares sold and adds company comment.

© 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

About Author

Christiana is a long-time journalist who has written about markets in the Americas, politicians who stashed cash in their underwear and high-end heels, to name just a few. She previously spent six years at Bloomberg, and her work has appeared in the WSJ, LA Times, Insider, Vogue Business and more. Christiana has a bachelor's degree in English from Pace University and a master's degree in journalism from New York University. She completed a master's degree in media psychology for fun.


To contact the editors of this story:
Madhu Unnikrishnan at
[email protected]
Walden Siew at
[email protected]