PANews reported on January 31 that, according to Bloomberg, a Delaware judge ruled that shareholder lawsuits against several directors of Coinbase Global Inc., including venture capitalist Marc Andreessen, for alleged insider trading can proceed after an internal investigation ruled out wrongdoing by the defendants.

A shareholder of the cryptocurrency platform filed a lawsuit in 2023, alleging that directors, including CEO Brian Armstrong, used confidential information to sell more than $2.9 billion worth of stock when the company went public in 2021, thus avoiding losses of more than $1 billion. According to the shareholder complaint, Brian Armstrong, who has served as CEO since Coinbase's founding in 2012, sold $291.8 million worth of stock.