Coinbase insiders including co-founder Fred Ehrsam have sold over $14 million worth of stock over the past two days, according to trading data from Monday. The selling caps weeks of liquidations even as prices rebound.

Ehrsam disposed nearly $13.2 million in Coinbase shares this week as tracking service Insider Tracker noted heavy ongoing insider sales activity. Ark Invest also unloaded $1.5 million in stock across its funds.

The transactions come on the heels of a banner three-month run for Coinbase, with prices recovering from $70 in October to cross $140 recently. But information suggests consistent selling by executives and shareholders over that stretch.

Ark Invest has notably dumped more than $100 million in Coinbase stock in December alone as the ETF operator pares back swelling exposures from outsized gains. The preemptive profit taking aims to balance overall portfolio allocations.

But liquidations by Coinbase insiders like Ehrsam himself raise some eyebrows given firsthand visibility into operational performance as the exchange rebounds along with crypto markets from doldrums last summer. The motives behind the selling spree remain unclear.