A few days ago, I came across an interesting discovery: community members uncovered internal trading records of the CEO of a major cryptocurrency exchange. Honestly, looking at this data was a bit eye-opening.

According to publicly disclosed information, the CEO's trading activity based on a 10b5-1 trading plan shows: 0 buy transactions and 88 sell transactions. Yes, you read that right—completely clearing out holdings without any incremental purchases.

This phenomenon has indeed sparked quite a bit of discussion. From an investment psychology perspective, management's holding behavior is often seen as an indicator of confidence in the company's prospects. Continuous selling, especially without any hedging buys, can lead observers to make certain inferences.

Of course, there could be various reasons for the sell-offs—asset allocation adjustments, liquidity needs, etc. But the data itself is quite straightforward: 88 sales and zero purchases. This extreme unidirectional trading pattern is relatively rare in the industry context.