Coinbase CEO Brian Armstrong has been selling some of the crypto exchange's stocks since November 2022. Recently, the company’s data showed that Armstrong sold $1.8 million worth of his Coinbase stocks in April. Additionally, Paul Grewal, the exchange’s chief legal officer, sold over $300,000 worth of the company’s stocks in March.

The recent sales come amid the growing popularity of digital assets. Since the start of 2021, the price of Bitcoin (BTC) has surged significantly, prompting renewed interest in crypto assets among investors. Coinbase’s stock (COIN) has enjoyed a run as well, rising by roughly 92% since the beginning of this year.

Coinbase’s stock also remains resilient despite Armstrong’s consistent selling of the company’s stocks. Armstrong had previously declared in November 2022 that he would fund scientific research and development through two startups - NewLimit and Research Hub - through sales of 2% of his stake before.

The announcement had sparked some suspicion that Armstrong was dumping stocks on the public. Cryptoslate had reported that he sold 89,196 Coinbase shares for 5.8 million US dollars in March — with almost half of the sales being done 24 hours before the US SEC issued a warning to the exchange.

With Coinbase’s stocks continuing to perform well, despite Armstrong’s sales, it seems that the speculations around his motives are unfounded. The stock’s impressive run is further proof that the digital asset industry is far from being a passing trend and continues to be a viable, upcoming investment option.



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