Coinbase stock is on a tear. 

Its share price has nearly quadrupled this year, and funds revolving around one particular insider have played the market almost perfectly. Along the way, trusts and funds linked to Coinbase and Paradigm co-founder Fred Ehrsam have so far sold the top, bought the bottom and even taken profits.

Ehrsam initially disclosed ownership of 17.7 million shares leading up to Coinbase’s direct listing in April 2021, split across five entities.

Ehrsam, through a trust in his name, initially sold a little more than 1.4 million Coinbase shares in the months following the company’s direct listing.

The trust netted $472 million with those trades, averaged out to…

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