$SHOP CEO Tobi Lutke has purchased 13,130 shares of $COIN this month, with his most recent purchase falling on August 23. On that day, he purchased 5,177 shares at an average price of $71.94 per share.

All of Lutke's purchases have been enacted through a prearranged 10b5-1 plan that was established last May, hinting that more purchases may be on the way.

Coinbase is currently in the process of shifting towards a subscription based model, much like Shopify.

CEO Brian Armstrong added:

"We’re realizing that trading fees… [are] still gonna be a big part of our business ten years from now, even twenty years from now, but I’d like to get to a place where more than 50% of our revenue is subscription and services."

Subscriptions and services currently make up 18% of Coinbase's revenue, up from 4% during 2020.