Brian Armstrong liquidated over 1.5 million Coinbase shares between April 2025 and January 2026, executing 88 sell orders totaling $545.7 million. The largest single-day sale was 336,265 shares at $355.37 on June 25, followed by 40,000 shares at $254.92 on January 5.

Armstrong’s personal fortune fell from a peak of $17.7 billion in July 2025 to roughly $7.5 billion as of early 2026, largely due to the decline in Coinbase share price. His remaining stake represents 14% of the exchange he co-founded in 2012.

In early February, Ark Invest sold $17.4 million in Coinbase shares while reallocating $17.8 million into rival Bullish. Goldman Sachs recently upgraded the stock to buy with a $303 target, but JPMorgan cut its target by 27%, citing lower trading volumes and weakening stablecoin growth.

Coinbase shares broke critical support at $230-$240 and closed 6% lower, with key technical indicators signaling downside momentum toward the $140-$145 zone. A recovery would require reclaiming the $168-$170 level followed by a move back above $230-$240 to repair severe technical damage.