Coinbase executives plan to sell up to 13.6 million COIN shares over the next 14 months, worth approximately $2.2 billion.

TechFlow news: On October 30, according to BeInCrypto, Coinbase reported Q3 net profit of $718.7 million, while Wall Street had previously expected the company to post a loss. However, the profit came primarily from $715 million in unrealized gains on the company's crypto asset holdings, rather than growth in its trading business. During the same period, the company's revenue fell 35% year over year to $1.22 billion, trading revenue declined 44% to $590 million, and consumer spot trading volume dropped 59%.

In addition, Coinbase CEO Brian Armstrong, co-founder Fred Ehrsam, and President Emilie Choi have filed stock sale plans to sell up to 13.6 million shares over the next 14 months. Based on the October 29 closing price, the shares are worth approximately $2.2 billion, equivalent to about 6% of the company's 223.7 million Class A shares.

Source: TechFlow