Cathie Wood’s company, Ark Invest, has bought more than 400,000 shares of Coinbase despite SEC pressure.
Tensions between the SEC and crypto exchanges have escalated in recent days. The lawsuits, in particular, have started to revolt the crypto industry against regulators. The SEC’s lawsuit against Coinbase did not deter many investors.
Ark Invest, Cathie Wood’s investment company, made a new purchase despite yesterday’s events, adding 419,324 Coinbase shares to its portfolio.
Cathie Wood’s Company Ark Invest Stable on Coinbase Stock
A crypto maximalist, Cathie Wood is often noted for her investments in the industry. Cathie Wood’s investment firm, Ark Invest, continues its acquisition strategy, especially regarding Coinbase stock.
The other day, Ark Invest bought Coinbase stock, whose price fell as a result of the SEC’s lawsuit against Coinbase. The investment company added 419,324 Coinbase shares to its structure.
According to a report by Bloomberg, Ark Innovation ETF and Ark Investment Management LLC fund bought Coinbase stock. With these releases, Ark Invest became the fourth largest Coinbase shareholder.
These days, when the crypto industry is acting with fear and panic, Wood’s moves draw attention. In the past months, Wood has bought shares in Coinbase for close to $40 million.
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