Coinbase co-founder Fred Ehrsam cleans house, cashes in on $13M in COIN shares as ARK plays divestment game

Coinbase Co-Founder Fred Ehrsam Unloads $13 Million in COIN Shares as ARK Continues to Divest

Coinbase Insiders Sell Millions of Dollars Worth of Shares

Well, well, well, it seems like Coinbase insiders have been busy cashing in on their stock options. According to the latest trading data, Coinbase co-founder Fred Ehrsam and ARK Invest have sold more than $14 million of Coinbase shares in the last 48 hours. Talk about a tidy profit!

Insider Tracker, a service that spills the beans on high-profile company executives and politicians, revealed that Ehrsam unloaded a whopping 97,836 COIN shares for a cool $13.2 million on December 11. That’s enough to make Scrooge McDuck jealous!

But wait, there’s more! ARK Invest, the brain behind the popular ARK Innovation ETF (ARKK), wasn’t far behind. Their daily trade information newsletter spilled the beans that they offloaded a tidy sum of 10,933 COIN shares, adding up to around $1.5 million. It seems like everyone wants a piece of the Coinbase pie!

Now, you might be wondering, what does this mean for everyday investors like you and me? Well, the sales by Coinbase insiders reflect a growing trend of COIN shares hitting the market. In fact, if you’ve been paying attention to the news, you’ll know that Coinbase insiders have been selling like there’s no tomorrow for the past three weeks. It’s like a massive clearance sale, except instead of discounted pants, it’s the company’s stock on the line.

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Of course, this flurry of activity coincides with Coinbase’s soaring share price. Just three months ago, the stock was trading as low as $70 per share. But fast forward to early December, and it skyrocketed to an eye-popping $146 per share. That’s enough to make Elon Musk’s SpaceX jealous!

But wait, there’s more! Several publications have been hounding ARK Invest, as they continue to unload their Coinbase shares like there’s no tomorrow. In fact, they’ve sold over $100 million worth of COIN shares in December 2023 alone. That’s enough money to buy a small island in the Caribbean!

Now, don’t let all this talk of big money scare you away. As a digital asset investor, you’ve got to keep your eye on the prize. Sure, there may be some insider selling going on, but that doesn’t mean Coinbase is losing its luster. It’s just a sign that some of the big players want to take their profits and run. And who can blame them? We all love a good cash-out!

So, my fellow crypto enthusiasts, buckle up and enjoy the ride. Remember, investing in digital assets is like riding a roller coaster. There will be ups and downs, twists and turns, and a whole lot of excitement along the way. And even if the insiders are selling, it doesn’t mean you can’t find your own piece of the crypto pie. It’s a wild world out there, so let’s keep investing and making those gains!

Now, who’s ready to hop on the crypto roller coaster with me? Let’s ride this wave all the way to the moon! 🚀🌕

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