ARK Invest Bought Again $17.7 Million Coinbase Shares
ARK Invest, the investment management company established by Cathie Wood, has purchased almost $18 million in Coinbase stock despite market turbulence. Merely two days before the Wells notice, ARK Invest sold 160,887 Coinbase shares for $13.5 million via its ARK Fintech Innovation ETF at a price of roughly $83 per share. In 2023, this was the first time any of ARK Invest’s ETFs sold Coinbase shares.
Coinbase has had its share of problems this week, with its stock dropping after the US Securities and Exchange Commission issued a Warning notice over its staking business, Coinbase Earn, and Coinbase Wallet. The company’s share price has not recovered since it disclosed that it had received a Wells notice from the Securities and Exchange Commission, which resulted in a 20% decline in COIN shares. The exchange has until March 29 to reply to the action and determine whether or not to dispute it. The SEC has revealed preparations to prosecute Justin Sun, the Tron Foundation, the BitTorrent Foundation, and Rainberry for selling unregistered securities.
Source
https://t.me/DeFi_Ethereum
