'Coinbase' Director Sells $2.7 Billion Stake Through Trust... CLO Also Faces Tax on Vesting Shares and Partial Sale

Frederick R. Wilson, a director at Coinbase Global, Inc. (Nasdaq: COIN), sold approximately 10,400 shares of Class A common stock on June 1 through a trust under a prearranged Rule 10b5-1 trading plan, generating about $1.9 million (roughly ₩27 billion) in proceeds. As a result, the trust’s indirect holdings were slightly reduced. On May 20, Chief Legal Officer Paul Grewal had roughly 15,000 Class A shares vest under existing restricted stock units (RSUs); of those, about 7,700 shares—valued at $1.5 million (approximately ₩21 billion)—were surrendered to the company to cover tax obligations. Grewal then sold around 1,960 shares, worth about $350,000 (approximately ₩500 million), in the open market on May 27 under another preestablished 10b5-1 plan, and disclosures show he continues to hold tens of thousands of shares.

At its “System Update” event on June 16, Coinbase unveiled a suite of new offerings—including tokenized U.S. equities, options and derivatives, AI-powered investment advice, and prediction markets—formalizing its “Everything Exchange” strategy to extend beyond cryptocurrency into stocks and derivatives. Leveraging U.S. Commodity Futures Trading Commission approval, the company is rolling out global crypto perpetual futures to U.S. investors and expanding its derivatives and payments infrastructure through partnerships on stablecoin-based cross-border settlement.

Founded in 2012, Coinbase is the largest regulated cryptocurrency exchange in the U.S. and went public via a direct listing on Nasdaq in April 2021. The company provides digital-asset trading and custody services, institutional brokerage, and developer infrastructure. Headquartered in the U.S., Coinbase operates a platform offering cryptocurrency and related financial infrastructure to retail and institutional clients worldwide.