Despite facing a securities violation lawsuit in the United States, Coinbase, a cryptocurrency exchange, has experienced a recent increase in its stock value. Since the U.S. Securities and Exchange Commission (SEC) filed a lawsuit against the company for allegedly offering unregistered securities, Coinbase stock has risen by more than 50%. TradingView data indicates that the shares surged by 51%, moving from approximately $52 on June 6 to $78.7 on July 7. Additionally, the stock has seen a growth of around 133% over the past six months, with a year-on-year increase of approximately 50%.

On July 6, several high-ranking executives at Coinbase, including CEO Brian Armstrong, collectively sold 88,058 shares worth approximately $6.9 million, as stated in official filings with the SEC.

The transactions encompassed various sales, such as a 4,580-share sale by Coinbase board member Gokul Rajaram, a 1,818-share sale by chief legal officer Paul Grewal, and a 7,335-share sale by chief accounting officer Jennifer Jones.

Furthermore, Jennifer Jones had previously sold 74,375 Coinbase shares on June 29, generating $5.2 million in proceeds.

While Coinbase executives have been regularly selling their shares, some major investors have chosen to hold onto their positions. Cathie Wood's investment firm, ARK Invest, is among those investors who have demonstrated their commitment to Coinbase stock. Since purchasing an additional 400,000 shares in early June, ARK Invest has not sold any of its holdings, according to the company's portfolio updates. Wood's decision aligns with her belief that as the price of Bitcoin increases, the value of Coinbase shares will also rise.

On June 19, the CEO of ARK Invest, once again expressed her confidence in the future of Bitcoin, stating that she envisions its price reaching $1 million per coin eventually.