23h ago
Delaware Judge Lets 2023 Insider Trading Case Against Coinbase Leaders Proceed
A Delaware judge has refused to dismiss a 2023 shareholder lawsuit accusing Coinbase CEO Brian Armstrong and board member Marc Andreessen of selling shares with nonpublic information around the 2021 direct listing. The case continues despite an internal 10‑month review that recommended dismissal and found the trades were limited and aimed at providing liquidity, with concerns instead centering on the independence of a special litigation committee member. Armstrong is alleged to have sold about $291.8 million in stock, while Andreessen, through Andreessen Horowitz, is said to have sold roughly $118.7 million.