Fun

News Feed - 2023-07-18 10:07:35

Tom Mitchelhill7 hours agoCathie Wood bullish on Coinbase after Ripple court rulingThe ARK Invest CEO says the recent Ripple court ruling is a major win for crypto exchanges.4450 Total views15 Total sharesListen to article 0:00NewsJoin us on social networksCathie Wood, the founder and CEO of ARK Investment Management, said she remains bullish over Coinbase in light of Ripple’s partial victory over the Securities and Exchange Commission on July 13. 


While Wood noted the ruling wasn’t in outright favor of Ripple, she lauded the outcome as “by and large, very positive for [crypto] exchanges.”


Wood joins the ranks of crypto industry pundits who have made similar points, arguing that the ruling — which found that XRP (XRP) tokens sold to retail investors on crypto exchanges were not securities — could set a positive precedent for Coinbase and Binance in their respective legal battles with the regulator.


Wood explained that despite the crypto exchange receiving a Wells notice in March and being hammered by a lawsuit from the SEC in June, the share price never fell to new lows, suggesting robustness in the value of Coinbase stock.


On July 17, three of Wood’s ARK Investment exchange-traded funds (ETFs) cashed in on the crypto exchange’s recent rally, selling a total of 248,838 shares, worth $26.3 million at the time. These sales came six days after the ARKInnovation ETF sold an additional $12 million worth of Coinbase stock on July 11. Coinbase share price year-to-date. Source: TradingView


Coinbase began 2023 trading at just $33.60 a share. At the time of publication, shares of COIN have surged more than 184% since then to reach a price of $105.55, according to data from TradingView.


Related:US ‘dominates’ crypto startup funding in Q2: Report


While many industry players are turning increasingly bullish on Coinbase, analysts from investment firm Berenberg Capital Markets warned that many aspects of regulation for crypto exchanges are far from being resolved.


In a July 17 investment note seen by Cointelegraph, lead analyst Mark Palmer said that Coinbase Earn — a financial product that offers yield on crypto staking — appears “particularly vulnerable” to being defined as a security in light of the comments made by Judge Analisa Torres in her ruling on the Ripple case.


Magazine:How smart people invest in dumb memecoins — 3-point plan for success


Update (July 18, 3:30 am): This article has been updated to include ARK Invest’s July 17 sales of Coinbase shares. # Coinbase# Business# Ripple# SEC# Adoption# XRP# Court# Ark# RegulationAdd reactionAdd reactionRelated NewsHow to create and sell Bitcoin NFTsHow to earn passive income with peer-to-peer lendingElon Musk’s new AI startup is as ambitious as it is doomedRipple gets in-principle nod for digital asset services in SingaporeBad news for Ripple? LBRY judge passes ruling on if secondary crypto sales are securitiesXRP ruling a ‘watershed moment,’ but we’re not out of the woods yet — Lawyers

News Feed

Liquid Staking Platform Lido Sees Largest Daily Stake Inflow, Receives 150,000 ETH Reportedly From Tron Founder
Liquid Staking Platform Lido Sees Largest Daily Stake Inflow, Receives 150,000 ETH Reportedly From Tron Founder On Saturday, the liquid staking protocol Lido tweeted about the larg
Trump's 'Talk of the World' American Steel Industry in a Major Slump; U.S. Steel (X) Plunges 12%
On the campaign trail, President Donald Trump pledged to revive the U.S. steel industry. At different times last year and this year, Trump has claimed that he had managed to do just that through the imposition of tariffs
A Conversation with One of Bitcoin Cash’s Most Prolific Developers
A Conversation with One of Bitcoin Cash’s Most Prolific Developers Calin Culianu is the #1 contributor to the Electron Cash project. Also, he contributes to BC
Israeli fintech Kima, Mastercard lab look to develop ‘DeFi credit card’
Derek Andersen6 hours agoIsraeli fintech Kima, Mastercard lab look to develop ‘DeFi credit card’Kima is seeking to bridge traditional and Web3 finance and make the user experience more manageable.5682 Total views2 To
Ethereum’s firm $2,860 support signals path to $4,500 — Deribit
Josh O"Sullivan10 hours agoEthereum’s firm $2,860 support signals path to $4,500 — DeribitA Deribit report underscores Ethereum’s resilience at $2,860, pointing toward potential highs driven by recent ETF approvals
Catching The Next Quick 5X: Why The Dogecoin Price Should Be On Your Radar
Este artículo también está disponible en español. Recent developments suggest that crypto investors looking to catch the next quick 5x should be keeping an eye on the Dog
Huobi Global Rebrands as Huobi, Introduces New Strategy
Huobi Global Rebrands as Huobi, Introduces New Strategy sponsored Huobi will endeavour to bring value to its business and provide secure and professional services to its users as it
Biggest Movers: SHIB, LTC Rebound From Recent Losses on Saturday
Biggest Movers: SHIB, LTC Rebound From Recent Losses on Saturday Shiba inu continued to move away from a recent one-week low on Saturday, as the meme coin rebounded to start the we
Bermuda Starts Development of a Blockchain-Based National ID System
The initial phase of Bermuda’s national blockchain-based electronic identification program is setting sail, one of very few such initiatives anywhere. A digital ID solution f
DeFi Technologies adopts Bitcoin treasury strategy
Vince Quill3 hours agoDeFi Technologies adopts Bitcoin treasury strategyThe publicly listed Canadian company announced the purchase of 110 BTC and repayment of $5 million in debt by its subsidiary, Valour.1313 Total view
Coinbase stock jumps 60% in 2024, recovers listing price
Ana Paula Pereira5 hours agoCoinbase stock jumps 60% in 2024, recovers listing priceCOIN stock has rebounded to surpass the $250 mark for the first time in two years. Over the past 12 months, Coinbase shares have climbed
Bitcoin, Ethereum Technical Analysis: BTC Bounces Back After Monday’s Selloff
Bitcoin, Ethereum Technical Analysis: BTC Bounces Back After Monday’s Selloff Following Monday’s selloff, cryptocurrency markets mostly rebounded across the board, with bi