Coinbase CEO Brian Armstrong Sold a Large Block of Stock

The day that Coinbase Global stock went public, CEO Brian Armstrong sold shares.

In a conventional initial public offering, early investors and company executives and directors are barred from selling stock for several months before a so-called lockup period expires. But Coinbase (ticker: COIN), a cryptocurrency exchange, went public on April 14 through a direct listing, in which existing shareholders sell stock on the open market.