Coinbase CEO Armstrong Sold 1.5 Million Shares Over the Past Year for $550 Million
Summary
- BlockBeats reported that Coinbase CEO Brian Armstrong sold more than 1.5 million shares of company stock over the past year, cashing out $550 million.
- Coinbase said it posted a net loss of $394.1 million in the first quarter, swinging from net income of $65.6 million a year earlier.
- Coinbase said its first-quarter revenue was $1.41 billion and EPS was -$1.49, missing market forecasts for $1.5 billion in revenue and profit of $0.36 a share.
Forecast Trend Report by Period
Coinbase Chief Executive Officer Brian Armstrong sold more than 1.5 million shares of the company over the past year, cashing out about $550 million.
BlockBeats, citing OpenInsider data, reported on May 8 that Armstrong sold the shares from May 2025 through the recent period. The sales generated about $550 million in proceeds, according to the report.
Coinbase said the same day that it posted a net loss of $394.1 million in the first quarter, compared with net income of $65.6 million a year earlier. The company also recorded a net loss of $667 million in the fourth quarter of last year.
First-quarter revenue was $1.41 billion, below market expectations of $1.5 billion.
Loss per share was $1.49. The market had expected earnings of $0.36 a share.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
