Coinbase: Executives Plan to Sell $2 Billion of COIN Stock

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https://cryptoast.fr/coinbase-dirigeants-vente-actions-coin-2-milliards-q3-2026/

We learn in Coinbase's latest quarterly report (which covers July, August and September) that Brian Armstrong, co-founder and CEO of the exchange, adopted a plan this summer to sell up to 8.17 million COIN shares, from November 16, 2026 and until October 22, 2027 at the latest. Co-founder Frederick Ehrsam plans to give away 3.87 million, and president Emilie Choi up to 1.56 million by the end of 2027.

In total, the three leaders could therefore sell up to 13.6 million shares over the next 14 months. Which currently corresponds to a value close to 2 billion dollars at the COIN share price of this Friday, October 30, 2026, which fell below 143 dollars.

These sales concern approximately 6% of the 223.7 million class A shares, those listed on the stock exchange. These are “10b5-1” plans, that is to say sales schedules fixed in advance, at a time when the managers do not hold any privileged information. Each sale is only triggered above undisclosed price thresholds.

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A year ago, Armstrong's plan was for just 3.75 million shares, less than half the new one. Coinbase can, however, still repurchase its own shares to the tune of $1.96 billion, according to a company repurchase program launched in 2024. In theory, these purchases could offset part of the securities sold by management.

But the pace of redemptions by Coinbase slowed significantly in the 3rd quarter of 2026. Coinbase repurchased only 37,995 COIN shares during this period, for $5.3 million.

Coinbase posted $718.7 million in net profit, or $2.51 per share, when analysts expected a loss. The exchange platform is thus coming out of the red after a loss-making first half of 2026, with around $754 million in cumulative losses from January to June.

Revenue fell from $1.87 billion to $1.22 billion compared to last year, a decrease of 35%. Transaction revenues fall by 44%, and the volume of purchases and sales by individuals collapses by 59%.

Operating income, which measures what the platform's activity brings in, fell to $61.7 million compared to $480.5 million a year earlier. Most of the “surprise” profit comes from a capital gain of $715 million on the cryptocurrencies that Coinbase keeps as an investment, “particularly on and Ethereum”, according to the quarterly report. This gain remains latent, that is to say not cashed, and it of course evolves with the price of cryptocurrencies.

Machine-translated from French