A viral tweet this weekend suggested top Coinbase executives held a fire sale with their personal stock—an accusation that, if true, would be cause for alarm since it implies they don’t have faith in the future of their own company. But as with many things on social media, the tweet failed to provide a full account on what was going on, though it did underscore the new challenges Coinbase will face as a public company.
If you missed it, the tweet in question showed a chart depicting certain stock sales of senior Coinbase figures after the company went public last Wednesday. Most notably, the chart included a line that purported to reflect what percentage of their stock holdings various individuals sold—including figures that suggested the Coinbase’s chief product officer sold 97% of his stock while the chief financial officer sold all of her stock.
While these sales appear jaw-dropping at first glance, the reality is less scandalous and mostly reflects the vagaries of SEC reportin
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