Crypto News: Cathie Wood's Ark Goes Long On $COIN As Coinbase Moves Offshore

Also Read: Coinbase Launches Derivatives Exchange With 5X Leverage

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Ark Invests Bags $15.5 Mln Coinbase Shares In 2 days

According to reports, Cathie Wood’s Ark Investment purchased approx $7.5 million worth of Coinbase shares. While the firm bought around 150,000 COIN on Monday. However, this move comes in when Coinbase Introduced its International Exchange just a day before.

The U.S. biggest crypto exchange had a tough last month as it received a regulatory warning of a possible lawsuit from the Securities and Exchange Commission (SEC). $COIN price registered a drop of more than 19% over the past 1 month.

At the press time, NASDAQ: COIN price is up by 2.35% (1.18 pts) to trade at $51.32. However, its after hours price stands at $50.95 down by 0.72% (0.37 pts). The considerable surge comes in after back to back purchases done by the Cathie Wood led Ark Invest. Read More Crypto News Here…

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Also Read: FOMC, ECB: Bitcoin To Face Tough Week Ahead; Here’s Why

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ARK Invest has been on Long on Coinbase since the beginning of 2023. It acquired 304,300 $COIN in April, while it added 2.4 million Coinbase shares in March.

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