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Coinbase Executives Sell Significant Amounts of Company Stock

Several top executives at Coinbase, including CEO Brian Armstrong, have reportedly sold significant amounts of company stock, according to filings submitted to the US Securities and Exchange Commission. Armstrong sold over $5.8 million worth of shares this week, marking his largest-ever sale, and has previously disclosed his plan to sell his 2% stake in Coinbase over the next year. The stock sales come as Coinbase faces regulatory scrutiny and stagnant trading volumes in the cryptocurrency market, raising concerns about the stock's future performance despite a 125% rally this year. The Securities and Exchange Commission has also filed a lawsuit against the exchange, alleging that it offered some unregistered securities.

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