[144] Coinbase Global, Inc. SEC Filing

Rhea-AI Filing Summary

Coinbase Global (NASDAQ:COIN) submitted a Form 144 notifying the SEC of a proposed sale of 336,265 common shares—to be converted from Class B to Class A—through Goldman Sachs & Co. LLC. The shares carry an aggregate market value of $119.50 million based on the filing.

The seller acquired the stock on 12/23/2019 in a private transaction with the Brian Armstrong 2018 Grantor Retained Annuity Trust and intends to begin selling on or about 06/25/2025. The notice covers approximately 0.16 % of Coinbase’s 211.41 million shares outstanding. In addition, the disclosure lists 18 separate open-market transactions by The Brian Armstrong Living Trust over the last three months, totaling roughly 160,000 shares and generating more than $35 million in gross proceeds.

No financial performance metrics, risk factors, or strategic updates are included; the filing is limited to the insider’s planned disposition under Rule 144.

Positive

• None.

Negative

• Insider affiliated with Brian Armstrong intends to sell 336,265 shares (~$119.5 M), following prior three-month sales of ~160 k shares, which may signal reduced insider commitment.

Insights

Insider Trading Analyst

TL;DR: Large insider sale (~$119 M) may pressure sentiment despite small 0.16 % slice of float.

The filing signals that an insider affiliated with Brian Armstrong plans to liquidate 336,265 shares. While this represents a modest fraction of outstanding shares, the $119.5 million headline figure and a pattern of recent sales (≈160 k shares in three months) could be interpreted by the market as reduced insider conviction or a desire to diversify. Because no offsetting positive disclosures accompany the notice, near-term perception skews negative. Liquidity impact should be manageable given average COIN trading volumes, yet the optics of sizeable, continuing sales often weigh on short-term price action.

Portfolio Sentiment Analyst

TL;DR: Transaction is material in dollar terms but immaterial to float; impact likely headline-driven.

Relative to Coinbase’s 211 M shares, the proposed block is minor; however, insider sales above $100 M frequently attract media coverage and algorithmic selling signals. The conversion from Class B to Class A ensures voting power alignment post-sale but also highlights ongoing ownership restructuring. Investors should watch for follow-on 144s; a steady cadence could cap upside momentum. Absent other corporate news, I classify the filing’s market impact as sentiment-negative but not fundamentally disruptive.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common Stock	Goldman Sachs & Co. LLC 200 West Street New York NY 10282	336265	119498493.05	211407406	06/25/2025	NASD

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common Stock	12/23/2019	Acquired Class B common shares from Issuer in private transaction; Class B common shares to be converted to Class A common shares in connection with any sales	Brian Armstrong 2018 Grantor Retained Annuity Trust			336265	12/23/2019	None

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
The Brian Armstrong Living Trust One Madison Avenue Suite 2400 New York NY 10010	Common Stock	05/14/2025	10000	2553096
The Brian Armstrong Living Trust One Madison Avenue Suite 2400 New York NY 10010	Common Stock	06/11/2025	10000	2548232
The Brian Armstrong Living Trust One Madison Avenue Suite 2400 New York NY 10010	Common Stock	06/02/2025	5000	1235534.5
The Brian Armstrong Living Trust One Madison Avenue Suite 2400 New York NY 10010	Common Stock	05/05/2025	5000	1002603
The Brian Armstrong Living Trust One Madison Avenue Suite 2400 New York NY 10010	Common Stock	04/14/2025	5000	898797.5
The Brian Armstrong Living Trust One Madison Avenue Suite 2400 New York NY 10010	Common Stock	04/03/2025	10000	1682565
The Brian Armstrong Living Trust One Madison Avenue Suite 2400 New York NY 10010	Common Stock	06/11/2025	10000	2558690
The Brian Armstrong Living Trust One Madison Avenue Suite 2400 New York NY 10010	Common Stock	05/14/2025	5000	1271208.5
The Brian Armstrong Living Trust One Madison Avenue Suite 2400 New York NY 10010	Common Stock	04/14/2025	10000	1783044
The Brian Armstrong Living Trust One Madison Avenue Suite 2400 New York NY 10010	Common Stock	06/11/2025	5000	1276546
The Brian Armstrong Living Trust One Madison Avenue Suite 2400 New York NY 10010	Common Stock	06/02/2025	10000	2474353
The Brian Armstrong Living Trust One Madison Avenue Suite 2400 New York NY 10010	Common Stock	06/02/2025	10000	2468828
The Brian Armstrong Living Trust One Madison Avenue Suite 2400 New York NY 10010	Common Stock	04/03/2025	5000	845400.5
The Brian Armstrong Living Trust One Madison Avenue Suite 2400 New York NY 10010	Common Stock	05/05/2025	10000	2000622
The Brian Armstrong Living Trust One Madison Avenue Suite 2400 New York NY 10010	Common Stock	05/05/2025	10000	2010282
The Brian Armstrong Living Trust One Madison Avenue Suite 2400 New York NY 10010	Common Stock	05/14/2025	10000	2539528
The Brian Armstrong Living Trust One Madison Avenue Suite 2400 New York NY 10010	Common Stock	04/23/2025	20000	3968722
The Brian Armstrong Living Trust One Madison Avenue Suite 2400 New York NY 10010	Common Stock	03/24/2025	10000	1981538

144: Remarks and Signature

Remarks

Date of Notice

Date of Plan Adoption or Giving of Instruction, If Relying on Rule 10b5-1

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

How many Coinbase shares are covered by the June 28 2025 Form 144?

The notice covers 336,265 common shares proposed for sale.

What is the total market value of the shares in Coinbase’s latest Form 144 filing (COIN)?

The filing lists an aggregate market value of $119,498,493.05 for the shares to be sold.

When is the approximate sale date for the 336,265 Coinbase shares?

The filer indicates an approximate sale date of 06/25/2025.

What percentage of Coinbase’s outstanding shares does the proposed sale represent?

It represents roughly 0.16 % of the 211,407,406 shares outstanding stated in the filing.

How many Coinbase shares were sold by the same insider during the past three months?

The filing details about 160,000 shares sold in 18 transactions over the last three months.

Which broker is handling the planned Coinbase share sale?

The sale will be executed through Goldman Sachs & Co. LLC.