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Coinbase is facing a lawsuit filed by an investor who alleges that executives and board members used inside information to sell stock before the company's share price plummeted. The complaint, which seeks the return of “ill-gotten gains” from several individuals including the chairman and CEO, claims that they avoided more than $1 billion in losses by selling off $2.9 billion in stock within days of the cryptocurrency platform's public listing two years ago. The lawsuit also accuses Coinbase of using a direct listing instead of a typical initial public offering. Coinbase denies the allegations, calling them “meritless”.
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