Coinbase share increases despite the lawsuit of the US value paper supervision

Coinbase share increases despite the lawsuit of the US value paper supervision
Coinbase share increases despite the lawsuit of US Worker Supervision
The US cryptocurrency exchange Coinbase is sued by the US Workerspaper Supervision (SEC). The accusation is that the company has not offered registered securities and thus violated securities law. Despite this legal challenge, the shares of Coinbase have recently gained a considerable value.
According to Data Data from TradingView, the stocks of Coinbase have increased by more than 50 percent since the filing of action. On June 6, the price was around $ 52 per share, while on July 7th it was $ 78.7. Overall, the value of the shares has increased by 133 percent in the past six months. Viewed for over twelve months, an increase of almost 50 percent is recorded.
Despite this impressive growth, some Coinbase executives have repeatedly sold shares. On July 6, CEO Brian Armstrong and other managers sold a total of 88,058 shares worth around $ 6.9 million. The head of accounting, Jennifer Jones, had already sold 74,375 stocks worth $ 5.2 million In contrast, some large investors keep their shares in Coinbase. The investment company ARK Invest from Cathie Wood, for example, bought 400,000 shares from Coinbase in early June and has not yet sold any of them. Wood has already explained that the course of the Coinbase share will increase when the Bitcoin course increases. She also confirmed her conviction that one day the Bitcoin will be worth $ 1 million per coin.
It remains to be seen how the legal situation of Coinbase will develop. The complaint of the SEC throws a shadow on the company, but the rising share prices show that investors still have trust in Coinbase. It remains exciting how the case will develop and what influence it will have on the cryptocurrency market.
Source: Tradingview, Sec, Cintelegraph