Armstrong sold 749,999 shares in three batches at prices ranging from $381 to $410.40 per share for total proceeds of $291.8 million, the filings made with the U.S. Securities and Exchange Commission showed.

Blockchain and cryptocurrency website Coindesk reported over the weekend that Coinbase stakeholders and investors sold about $5 billion in shares in total during first day of trading.

Coinbase Global Inc went public in a high-profile debut on the Nasdaq that briefly valued it at more than $100 billion.

(Reporting by Kanishka Singh in Bengaluru; Editing by Tom Hogue)