Coinbase shares up 50% since SEC lawsuit

Despite the Coinbase cryptocurrency exchange dealing with a securities violation claim in the United States, the companys stock has been on the increase recently.Coinbase stock has actually included more than 50% to its value since the U.S. Securities and Exchange Commission (SEC) filed a claim against the firm for allegedly offering unregistered securities.According to data from TradingView, Coinbase shares rose 51%, from around $52 on June 6 to $78.7 on July 7. Source: TradingViewAmid substantial growth, some significant Coinbase shareholders have continued offering some of their shares.On July 6, a number of senior Coinbase executives, consisting of CEO Brian Armstrong, offered a combined overall of 88,058 shares worth about $6.9 million.According to official filings with the SEC, the transactions consisted of a 4,580 sale by Coinbase board member Gokul Rajaram, a 1,818 sale by chief legal officer Paul Grewal and a 7,335 sale by primary accounting officer Jennifer Jones.Previously, Jones likewise sold 74,375 Coinbase shares on June 29, netting $5.2 million.Related: Coinbase was conscious of securities law infractions, SEC claims in letterWhile Coinbase executives have been selling their shares on a routine basis, some major financiers have actually continued to hodl.Since buying another 400,000 shares of Coinbase stock in early June, Cathie Woods investment company ARK Invest has actually not sold any of its holdings, according to the companys portfolio updates.