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Coinbase CEO Sold Shares Before SEC Lawsuit, Avoiding Losses

Brian Armstrong, CEO and co-founder of Coinbase, sold company shares the day before the SEC filed a complaint against the exchange for securities law violations. The sale caused controversy on Twitter, as Armstrong avoided a significant loss. However, it is unclear whether the trade was set up before the news of the SEC action was known to Armstrong. Armstrong has been regularly selling Coinbase stock since November under a pre-determined trading plan.

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