Coinbase Co-Founder Fred Ehrsam Buys $75M of COIN Stock
iHodl.com
Main page News, US Market, Stocks, Crypto Market

American business executive and Coinbase Co-Founder Fred Ehrsam has acquired $75 million of Coinbase's (COIN) stocks as the US-based trading platform reported weak earnings.

Subscribe to our Telegram channel to get daily short digests about events that shape the crypto world

According to regulatory filings with the US Securities and Exchange Commission (SEC), Ehrsam bought over 1 million shares of Coinbase through Paradigm, an investment firm co-founded with investor Matt Huang.

Coinbase 'Reassess Headcount Needs' as Markets Tumble

With the latest purchase, Paradigm now hodls over 3.5 million shares of Coinbase, while Ehrsam personally owns over 1 million shares via a trust. The move comes as Coinbase's stocks reached the year's lows at $53.7 per share, losing 74% since January 2022. The company's market capitalization is a little over $14 billion.

Access more than 50 of the world's financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange

Read also:
Please describe the error
Close