Is Coin Really A Pump And Dump?

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Its A Much Anticipated Listing

Just like my previous post on how DIF (Dash Investment Foundation) are interested in buying to Coinbase's COIN stock share, the coinbase listing are very much anticipated.

Not just because the whole crypto market are thriving at the moment, but also because Coinbase is one of the biggest crypto Exchange, especially for American as Coinbase is American based Exchange.



But there has been several rumors of Insider trading where most of high profile executives of Coinbase are seen selling huge amount of thier holding, just like its CFO Haas Alesia J selling her 100% holding which can be seen on OpenInsider's SEC Form 4 screener.

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Coinbase managed to raised $4.1 Billions from that sale, such a huge money raised for the company. That sale also making a headline and also spurred around the internet, especially twitter as one of the channel for cypto community.

Some of them are laughing of how the top executives sold their shares, just look like a dump action from a developer of a crypto project, something sad but commonly happen in the community.

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But then someone on twitter also offering different point of view, but quoting the now deleted tweet about the Insider Dump. Saying that because it is a direct listing from coinbase, they holder which is the early investor and the Executives need to sell their holding to make liquidity and making the share available for public to buy.

The shares sold were also being listed and registered to be open for sale before the listing happen, and it is still not 10% from the total holding the company has.

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But does the rumor of the dump really affecting Coinbase share? They are traded at around $315 below its so far peak hours after its listing at $428.

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Posted Using LeoFinance Beta



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