Some members of Coinbase crypto exchange sold its securities for $3.6 billion, the first day of direct listing on Nasdaq, according to SEC fillings. CEO Brian Armstrong sold almost 750,000 shares at the $381 to $410 price range, making $291.8 million.
Union Square Ventures, a venture capital firm by Fred Wilson, sold 4.7 million shares of the exchange for $1.82 billion
Marc Andreessen, another Coinbase board member, sold 1.18 million shares for $449.2 million.
Coinbase previously distributed 100 shares of the company to its employees, each receiving $34,400 taking into account the current value.
Coinbase is currently declining. COIN: NASDAQ is down 2.92% on premarket.
