NEW YORK, April 19 — Coinbase Chief Executive Brian Armstrong sold about US$292 million (RM1.2 billion) in shares in total during the cryptocurrency exchange’s first day of trading on the Nasdaq in the past week, according to regulatory filings.

Armstrong sold 749,999 shares in three batches at prices ranging from US$381 to US$410.40 per share for total proceeds of US$291.8 million, the filings made with the US Securities and Exchange Commission showed.

Blockchain and cryptocurrency website Coindesk reported over the weekend that Coinbase stakeholders and investors sold about US$5 billion in shares in total during first day of trading.

Coinbase Global Inc went public in a high-profile debut on the Nasdaq that briefly valued it at more than US$100 billion. — Reuters