Brian Armstrong, CEO of Coinbase, sold more than $1.6 million of A-class coinbase Shares.

On November 11, 2022, according to a filing with the US Securities and Exchange Commission, Coinbase Ceo Brian Armstrong sold 30,000 or more Class A coinbase shares worth $1.6 million, reported by coinbase. 

Brian Armstrong also converted Class B coinbase shares into Class A shares. 

The Coinbase company first went public in April 2021, and its share was traded at $340; they closed their crypto prices at $55.53 yesterday.

Class A share vs. Class B share 

Class A shares are also known as Common stocks, the vast majority of shares issued by a public company. Class A shares can be converted into more than one share of common stock. If, for example, a CEO owns 20,000 shares that can be converted into 50,000 of common stock, and the company is sold, the CEO essentially earns a profit off the combined share price of the 50,000 shares, according to Investopedia.

Whereas Class B refers to the shares of common stocks, Technically, a company can create various Class of shares if they wish to. It is understood that when there is more than one Class type, it is named Class A and Class B.

Priority of Class B payment in Low means if the company filed for bankruptcy, then Class A shareholders must pay first.

Brian Armstrong 

Brian Armstrong is an American Businessman and Investor born on January 25, 1983. He is a Ceo of the cryptocurrency exchange platform Coinbase. Coinbase was founded by Brian Armstrong and Fred Ehrsam in 2018.

According to the Forbes report, Brian Armstrong owns about 19% of Coinbase shares, and Cofounder Fred Ehrsam owns 6% of shares, but he left the company in 2017 and serves on the board of directors; he’s also a billionaire. The Rise and Rise of Bitcoin is an American documentary featured by Brian Armstrong in 2020.

Coinbase’s share value closed at $55.53 on November 16; the total market-capped value of its stock is 12.60 billion USD. Coinbase’s lowest price reached $54.60 and the share price peaked at $58.00.


As Brian Armstrong has sold his $1.6 million of Class A shares and converted his Class B shares into Class A, maybe he is avoiding risk because once he became the victim of FTX’s solvency crisis.

Because according to the rules of Class A and Class B shares, Class A shares are the priority to pay first if the company got bankrupt 

Related Posts

Unleashing the Power of CC0 NFTs: Understanding their Significance in Digital World

Non-Fungible Tokens and NFTs have taken the world of...

Stagflation: How Cryptocurrency Markets Are Bracing for Impact

What is Stagflation? Stagflation is an economic condition in which...

Web3: The Key to Data Sovereignty in Metaverse

Web3 is an idea for a new world wide...

FANTOM  Ecosystem: A Beginner’s guide to the ‘Scalable Blockchain’ protocol

The crypto industry has seen a large expansion in...

How DAOs are affecting the legal industry:

Decentralized Autonomous Organizations (DAO) have already started finding their...

White House regulates cryptocurrency guidelines – warns mainstream institutions

2022 was a very difficult year for crypto enthusiasts...