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Brian Armstrong Dumped Huge Coinbase Shares

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Coinbase was the only company to declare they were not affected by the FTX drama, which shattered hopes of a crypto winter ending.

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Coinbase has recently cut 60 more employees after an 18% reduction in its workforce. 

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Alesia Haas, Coinbase's CFO, said that the move was a direct result. However, she did hint that this might not be the end of the cuts.

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The CEO of Coinbase has sold assets to indicate that Coinbase is in worse financial condition, particularly considering the amount of these assets.

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Brian Armstrong sold 29,732 shares, bringing in $1,625,151. Over the 13 transactions, the average price per share of Coinbase stock was $54.66. 

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The sale of 300 shares worth $46.70 each saw the lowest price.

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The prices shown above are reasonable, but they pale compared to the cost of Coinbase stock earlier this year.

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