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Shares of Coinbase stock are in the spotlight today following another insider purchase from co-founder Fred Ehrsam. This is Ehrsam\u2019s third insider purchase<\/a> of the crypto exchange this month. In fact, no Coinbase insider has purchased shares of COIN stock this year on the open market besides Ehrsam.<\/p>\n Ehrsam helped found Coinbase alongside current CEO Brian Armstrong. Eventually, he also moved away from the company and helped found Paradigm, an investment firm that focuses on cryptocurrency and Web 3.0 opportunities.<\/p>\n Let\u2019s get into the details of Ehrsam\u2019s purchase.<\/p>\n On May 24, Fred Ehrsam purchased 30,030 shares at an average price of $60.60 per share. In total, the purchase amounted to just over $1.8 million. Ehrsam indirectly purchased all of these shares through the Paradigm One Fund. After the purchase, Ehrsam indirectly owns 1.12 million shares through the fund. He also owns another 1.13 million shares through the The Frederick Ernest Ehrsam III Living Trust and 1,213 shares directly. Finally, Ehrsam owns an additional 2.58 million shares through the Paradigm Fund.<\/p>\n Earlier, on May 17, Ehrsam purchased 385,260 shares<\/a> through the Paradigm One Fund at average prices ranging between $63.92 and $66.52. The purchase amounted to a massive $25 million<\/a>. However, Ehrsam made an even bigger purchase on May 13, purchasing 706,554 shares<\/a> at average prices ranging between $69.53 and $72.85. That purchase amounted to a whopping $50 million.<\/p>\n Ehrsam seems to be buying back shares at a discount after selling out shares following the company\u2019s initial public offering (IPO). One article<\/a> from\u00a0The Wall Street Journal<\/em> details how four Coinbase insiders sold $1.2 billion of COIN following the company\u2019s IPO. These four insiders are co-founders Fred Ehrsam and Brian Armstrong as well as COO Emilie Choi and CPO Surojit Chatterjee. At its initial public offering, COIN stock initiated trading at $381. The four insiders sold shares at prices between $189 and $422. Today, the stock is trading in the low $70 range.<\/p>\n Armstrong sold shares worth $292 million through both himself and his trust. On top of that, Ehrsam sold nearly $500 million of COIN. Meanwhile, Choi \u201cexercised options at a cost of $9.7 million [\u2026] while Chatterjee exercised options at a cost of $6 million.\u201d Choi and Chatterjee also sold shares worth $226 million and $110 million, respectively.<\/p>\n On the date of publication, Eddie Pan did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com\u00a0<\/i>Publishing Guidelines<\/i><\/span><\/a>.<\/i><\/p>\n<\/p><\/div>\nCo-founder and Director Fred Ehrsam Buys COIN Stock<\/h3>\n