Recent data from Dataroma reveals that insiders at Coinbase, including CEO Brian Armstrong and other executives, have sold approximately $7.4 million worth of company stock over the past 30 days.

Of this amount, Armstrong sold $5.8 million worth of stock. The sales included 60,000 shares, which were sold for $3.56 million between March 3 and 15, and 30,000 shares, which were sold on March 21 for $2.24 million.

Additionally, other executives at Coinbase, such as Chief People Officer Brock Lawrence, Chief Accounting Officer Jennifer Jones, and Chief Legal Officer Paul Grewal, have collectively sold $1.68 million worth of stock.

Earlier today, Coinbase announced it has received a "Wells notice" from SEC regarding some of their digital assets, Coinbase Earn, Coinbase Prime, and Coinbase Wallet after a preliminary investigation.