Cathie Wood's ARK Invest buys Coinbase dip after SEC lawsuit.
TL;DR Summary
Cathie Wood's ARK Innovation ETF bought over 400,000 shares of Coinbase stock worth over $20 million following the SEC's lawsuit against the crypto exchange, while other investors sold off their shares. Wood has been a long-time proponent of crypto and has continued to build her stake in Coinbase despite increased regulatory scrutiny. The SEC's crackdown on Coinbase marks the second time in as many days that the agency has leveled legal charges against crypto companies, with Binance being the other target. While the enforcement actions are not ideal, they are a necessary step toward crypto adoption, according to experts.
- Cathie Wood’s ARK Invest snaps up Coinbase stock following SEC lawsuit Yahoo Finance
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- Cathie Wood picked up over $20 million dollars worth of Coinbase as the stock plunged after SEC charges Fortune
- Cathie Wood Buys the Dip in Coinbase Shares The Wall Street Journal
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