Cathie Wood’s Ark Invest Piles On Coinbase Shares

Cathie Wood’s investment firm Ark Invest bought nearly $8 million Coinbase shares the same day the exchange filed a lawsuit against the SEC.

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The ARK Innovation ETF purchased 122,083 shares in Coinbase, while the ARK Next Generation Internet ETF added 20,327 COIN shares.

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The ARK Fintech Innovation ETF also piled on 14,633 Coinbase shares.

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The total value of the share purchased amounts to nearly $8.6 million at current prices.

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Coinbase's lawsuit against the SEC follows a petition for a rulemaking that the company filed with the U.S. securities regulator last summer.

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Coinbase can file another lawsuit to try to make a federal court force the SEC to make a new rule — if the regulator declines.

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Coinbase CEO Brian Armstrong backed an NFT project to signal "unity for the crypto community seeking sensible crypto policy" after it sued SEC.

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