Coinbase shares slip as CEO Armstrong’s stock sales top $500 million in nine months

Coinbase Global Inc. (COIN) shares declined by 5.7% following data showing CEO Brian Armstrong sold about $545.7 million worth of company stock between April 2025 and January 2026, totaling over 1.5 million shares. This news coincided with a report that Armstrong's net worth dropped significantly, though the majority of his fortune remains tied to his 14% stake in Coinbase. The selling pressure persists despite a recent upgrade from Goldman Sachs, while JPMorgan lowered its price target due to concerns over trading volumes and crypto price softness. Meanwhile, Cathie Wood’s Ark Invest liquidated some Coinbase shares while investing in a competitor. Despite the equity slide, Coinbase continues product innovation, recently launching "Agentic Wallets" to allow autonomous AI agents to transact on-chain.

(Source：The Block)