Coinbase CEO’s inventory sale was in all probability not deliberate to happen a day forward of SEC swimsuit

Coinbase (NASDAQ:) CEO and co-founder Brian Armstrong bought firm shares the day earlier than america Securities and Change Fee (SEC) filed a grievance in opposition to the alternate for securities legislation violations. The transaction precipitated a minor stir within the Twitter cryptoverse, as Armstrong averted a pointy loss by doing so.

SEC information present that Armstrong bought 29,730 shares of the corporate on June 5, the day earlier than the SEC swimsuit. Coinbase’s share worth plummeted the day of the swimsuit, with an preliminary dip of 20%.

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