A recent lawsuit filed by an investor alleges that Coinbase Inc.’s top officials, including Chairman and CEO Brian Armstrong and board member Marc Andreessen, engaged in insider trading to avoid losses of over $1 billion.

The alleged trading occurred shortly after the cryptocurrency platform’s public listing two years ago, before the disclosure of negative information caused the company’s share price to plummet.

The lawsuit claims that the board used a direct listing method, which allowed them to rapidly sell off $2.9 billion in stock before Coinbase management revealed “material, negative information” during the company’s first quarterly earnings release. The complaint, which was unsealed in Delaware Chancery Court on Monday, suggests that the board’s actions allowed Armstrong, Andreessen, and other officers to benefit from insider information and avoid substantial losses.