Fun

News Feed - 2023-07-12 04:07:56

Helen Partz1 hour agoCathie Wood’s ARK sells 135K Coinbase shares as price hits $90Cathie Wood is taking profits from ARK Invest’s Coinbase holdings by selling a small portion of its stash.746 Total views1 Total sharesListen to article 0:00NewsJoin us on social networksPro-Bitcoin (BTC) Investment veteran Cathie Wood is taking some profits from ARK Invest’s large Coinbase holdings by selling a small portion of its stash.


On July 11, Wood’s investment firm ARK offloaded 135,152 Coinbase shares ($12 million) from one of its major exchange-traded funds (ETF), the ARK Innovation ETF. According to the trade notification seen by Cointelegraph, the amount sold made up 0.14% of the fund’s total holdings.


The sale comes as the Coinbase stock price has sharply increased. On July 11, the price briefly surpassed $90, surging from around $82 to as high as $90.9, according to data from TradingView. Following Wood’s sale, the stock closed at $89 on Tuesday.


According to TradingView data, Coinbase stock is up more than 60% over the past month, while the year-to-date increase is more than 140%.Coinbase 7-day price chart. Source: TradingView


The new sale by ARK is the second time Wood has taken profits from Coinbase shares this year. On March 21, ARK sold 160,887 Coinbase shares from its ARK Fintech Innovation ETF for $13.5 million, roughly $84 per share.


Before taking fresh profits from ARK’s Coinbase holdings, Wood has been actively accumulating the stock in multiple ARK funds. In June alone, ARK purchased about $40 million of Coinbase shares. Previously, the investment firm bought around $33 million of shares in April and May, as well as $117 million worth of Coinbase shares in March.


Related:Coinbase was aware of securities law violations, SEC claims in letter


Multiple Coinbase executives, including CEO Brian Armstrong, have been selling their shares as the price rallied in recent months. On July 6, Armstrong and several other senior Coinbase execs sold a combined total of 88,058 shares worth about $6.9 million at the time. Previously, Coinbase chief accounting officer Jennifer Jones also offloaded 74,375 shares on June 29, netting $5.2 million.


The rise of Coinbase stock comes despite the exchange facing a securities violation lawsuit from the United States Securities and Exchange Commission. The growth could be primarily attributed to a fear of missing out on the BlackRock spot Bitcoin ETF filing, which named Coinbase a “surveillance-sharing” partner.


Collect this article as an NFTto preserve this moment in history and show your support for independent journalism in the crypto space.


Magazine:Should you ‘orange pill’ children? The case for Bitcoin kids books# Bitcoin# Coinbase# Business# Nasdaq# Brian Armstrong# StocksAdd reactionAdd reactionRelated NewsWho invented NFTs?: A brief history of nonfungible tokensBitcoin has entered a civil war — Over ‘art’BlackRock Bitcoin ETF could unlock $30 trillion worth of wealth, Bloomberg analyst saysCoinbase Credit lends Hut 8 $50M to support Bitcoin treasuryCrypto ATM firm Bitcoin Depot will go public on Nasdaq starting July 3CEX crypto trading hits $2.7T in June amid SEC lawsuits, BlackRock Bitcoin ETF filing

News Feed

Biggest Movers: MATIC Moves to 10-Month High, ATOM Extends Recent Gains
Biggest Movers: MATIC Moves to 10-Month High, ATOM Extends Recent Gains Polygon rose to its strongest point since last April, as prices rose by as much as 6% on Feb. 8. The token s
Amaka Nwaokocha40 minutes agoAttorney outlines Ripple-SEC settlement path amid Coinbase case impactDeaton clarified that even if an appeal were possible in such a situation, the agency"s authority would be diminished.305
Binance co-founder He Yi says CZ received ‘most optimal outcome’
Derek Andersen4 hours agoBinance co-founder He Yi says CZ received ‘most optimal outcome’The mother of CZ’s children sought to dispel concerns about the former CEO’s fate as he awaits sentencing in the United Sta
Ethereum Hits Major Level After Biggest Weekly Candle In Years – What Comes Next?
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Kamala Harris may continue the Biden administration’s crypto crackdown
Zoltan Vardai9 hours agoKamala Harris may continue the Biden administration’s crypto crackdownHarris is preparing to unveil plans about her economic policy in a mid-August speech. 6510 Total views4 Total sharesListen
US Senators Introduce Bill Requiring Treasury to Report on Cryptocurrencies and Their Use Globally
US Senators Introduce Bill Requiring Treasury to Report on Cryptocurrencies and Their Use Globally Two U.S. senators have introduced a bipartisan bill aimed at improving the oversi
Interoperable QR Payments Reach Record Number in Argentina
Interoperable QR Payments Reach Record Number in Argentina Interoperable QR payments, a system that allows all digital wallets in Argentina to make payments in several stores, reac
Devs Debate Using USDC for Collateral After DAI Stablecoin Faces Liquidity Issues
Devs Debate Using USDC for Collateral After DAI Stablecoin Faces Liquidity Issues Since March 12, the Makerdao community has been struggling with the stablecoin DAI which has bee
Bitcoin Black Friday: Bitpay Reveals List of Merchants Offering Discounts and Special Promotions
Bitcoin Black Friday: Bitpay Reveals List of Merchants Offering Discounts and Special Promotions While cryptocurrencies have seen their values rise significantly during the last th
Gareth Jenkinson36 minutes agoDutch exchange Bitvavo cleared to operate in FranceThe Dutch cryptocurrency exchange Bitvavo is slowly expanding its reach after gaining regulatory approval in Austria and France.266 Total v
Derek Andersen2 hours agoDigital rupee gets big usability boost through Yes Bank integration with UPIThe Yes Bank app’s UPI integration is the first for the Indian retail CBDC, which has seen a variety of projects sinc
There’s 30 Doge-Like Tokens Today — New Daddy Doge Jumps 57% This Week, Promises To Be First in Space
There’s 30 Doge-Like Tokens Today — New Daddy Doge Jumps 57% This Week, Promises To Be First in Space Following the hype surrounding dogecoin, shiba inu, and