Coinbase shares up 50% since SEC lawsuit
Senior Coinbase executives, including CEO Brian Armstrong, have been selling their shares amid the stock’s growth over the past month. Despite the Coinbase cryptocurrency exchange facing a securities violation lawsuit in the United States, the company’s stock has been on the rise recently. Coinbase stock has added more than 50% to its value since the U.S. Securities and Exchange Commission (SEC) filed a lawsuit against the firm for allegedly offering unregistered securities. According to data from TradingView, Coinbase shares surged 51%, from around $52 on June 6 to $78.7 on July 7. The stock is also up around 133% over the past six months, while year-to-year growth is roughly 50%. Coinbase 30-day price chart. Source: TradingView Amid significant growth, some major Coinbase stockholders have continued selling some of their shares . On July 6, a number of senior Coinbase executives, including CEO Brian Armstrong, sold a combined total of 88,058 shares worth about $6.9 million. Accor...