Coinbase CEO sold $ 291.8 million worth of stocks on the day of his debut on the NASDAQ exchange

According to documents submitted to the U.S. Securities and Exchange Commission, Armstrong sold 749,999 shares in three pieces At prices ranging from $ 381 to $ 410.40 per share.

the gate KuindiscShe, who specializes in blockchain and cryptocurrencies, reported that stakeholders and investors at Coinbase sold $ 5 billion worth of stocks on the first day of trading.

Successful IPO

During the first day of its public going public (IPO), the company capitalized Approached To $ 100,000 million, a figure surpassed at a certain point.

price Initial offer It was 250 dollars Per share, but the Coinbase offer opened at $ 381 a share, which translates into the market capitalization of the company. $ 99.6 billion.

The share price then peaked, topping $ 429, with Coinbase’s capitalization reaching $ 112 billion. Finally, there was a drop below opening bid levels and currently Coinbase Quotes Around $ 342 per title

What is Coinbase?

Coinbase posted a profit of $ 1.8 billion in the first quarter of this year, compared to the $ 1.3 billion it made in the whole of 2020. Being evaluated $ 68 billion last March.

This month he learned that Formed a Impact group With Fidelity and Square, other players in the sector, as well as with the venture capital firm Paradigm, with the goal of making regulation more suitable for the blockchain and cryptocurrency industry.

Founded in 2012, Coinbase provides cryptocurrency and fiat currency exchange services, serving more than 56 million customers in 100 countries. In total, about 50 cryptocurrencies are traded on the platform, including Bitcoin.

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