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A public record shows that Shopify CEO Tobias Lutke purchased Coinbase shares worth close to $3 million in the past 60 days. As a Coinbase associate, Lutke must report all trades in the company to the Securities and Exchange Commission (SEC) in order to remain an active investor. Lutke joined Coinbase’s board of directors in February.

Tobias Lutke, Shopify’s Founder, has purchased a significant number of COIN shares since August 11.
Coinbase Global Inc. shares (Nasdaq COIN). Statistics show that COIN has suffered a decline of 73.47%, or a loss in nominal U.S. dollar value. COIN gained 2.11% in the last 24 hours, and 0.93% in the last five days.

COIN’s market value is currently hovering at 66.61 U.S. Dollars per share.

Public records show that Shopify CEO Tobias Lutke accumulated a shade less than $3,000,000 worth of COIN shares in the past two months.

Lutke purchased 3,930 COIN shares on August 11, and paid $97.24 per share. Lutke bought 4,023 shares of COIN on August 11 for $97.24 per share. Lutke bought thousands of Coinbase shares six times between August 11 and September 27.

According to the acquisition records, he spent an average of $369K per week on COIN shares from August 11 through September 11. He is the founder and CEO of Shopify and is a billionaire. He’s also a core member of Ruby on Rails.

Lutke, along with a few other Shopify executives invested $3 million in a global print-on-demand platform called Creative Layer. Shopify and Lutke have been interested in cryptocurrency ( BTC ) for a long time.

Shopify joined Meta’s Libra Association in February 2020. The company also began accepting crypto payments that year. Lutke is director of the Coinbase Global board of five members, which includes Marc Andreessen, Coinbase CEO Brian Armstrong and Fred Ehrsam (ex-CSO at Cisco Kelly Kramer).

According to disclosures, Ehrsam is the only Coinbase insider to have purchased shares in the past year. The co-founder bought 1.1 million shares for approximately $76 million. Ehrsam paid an average of $68 per share for the 1.1 million COIN shares last May. According to records, Lutke has approximately 65,815 shares. His cheapest purchase was $62 per share.

The post CEO of Shopify Buys up $3 Million Worth of Coinbase Stock first appeared on The Daily Encrypt.


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Angie Byrd