The top executives of coinbase (CEO, COO CFO, CPO and CAO) have sold most of their shares on the day that $COIN was listed. We are talking here about between 63% and 100% Coincidence? Edit: The % of the amount of shares that was not locked - still not sure why there even is a % of shares that is not locked.
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7 comments
Coin-cidence yeah...
Ummmmm money police it's near
Nop, they didn't. They sold 98%-100% of their 2% unlocked shares ( the rest 98% of their shares are under a contract which says they can't touch them up to some date, not sure what ), so basically they sold 2% of their shares.
So you say those are only 2% ?
If you somehow prefer to read good sources instead of twitter geniuses with a data which I can easily fake in excel for 5-10 minutes - https://cointelegraph.com/news/coinbase-insiders-dump-nearly-5-billion-in-coin-stock-shortly-after-listing
Most of the top share solders are not any of the customers, they are investors who just participated in the private sell. + all of this is just speculation by twitter geniuses + just checked that even if all of this data is true the biggest chunk of selling is from the first and it turns out its 10% of his shares. Is this 63-100%?
I read other sources, but found nowhere that 98% of their shares are locked (common practice to lock the shares of top executives i guess) - saw different amounts of % - depending on the source, but even if they sold 63-100% of their 2-10% that are not unlocked - for whatsoever reason - it does not put them in a good light. What is a good reason that one does this on the first day?