{"id":20294,"date":"2023-04-27T04:32:41","date_gmt":"2023-04-27T04:32:41","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/ark-invest-acquires-over-157000-coinbase-shares-amid-crypto-exchanges-standoff-with-sec\/"},"modified":"2023-04-27T04:32:41","modified_gmt":"2023-04-27T04:32:41","slug":"ark-invest-acquires-over-157000-coinbase-shares-amid-crypto-exchanges-standoff-with-sec","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/ark-invest-acquires-over-157000-coinbase-shares-amid-crypto-exchanges-standoff-with-sec\/","title":{"rendered":"ARK Invest Acquires Over 157,000 Coinbase Shares Amid Crypto Exchange’s Standoff with SEC"},"content":{"rendered":"

(Originally posted on : Crypto News – iGaming.org )<\/b>
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This week, Cathie Wood<\/a><\/strong>\u2018s ARK Invest acquired over 157,000 shares in Coinbase (COIN), the leading US cryptocurrency exchange, which is currently challenging the U.S. Securities and Exchange Commission (SEC).<\/p>\n

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On Monday, three separate ARK Invest funds collectively purchased COIN shares valued at $6.98 million at the time of writing.<\/p>\n

At present, Coinbase shares constitute 4.74% of ARK\u2019s combined portfolio. The three funds\u2019 estimated average costs for COIN are $239.60, $254.65, and $242, all significantly higher than Coinbase\u2019s current share price of $56.86.<\/p>\n

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The acquisition coincides with Coinbase\u2019s legal motion to require the SEC to respond to a previous petition from the company seeking guidance for the digital asset sector. Coinbase initially submitted the rulemaking petition in July last year but has not yet received a definitive response from the regulator.<\/p>\n

Last month, the SEC issued a Wells Notice to Coinbase, indicating a \u201cpreliminary determination\u201d to recommend enforcement action against the crypto exchange for alleged securities law violations.<\/p>\n

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Despite the ongoing crypto winter in 2022, ARK\u2019s CEO Wood maintains a bullish outlook on Bitcoin<\/a> <\/strong>(BTC), forecasting earlier this year that the premier cryptocurrency will skyrocket by over 2,000% within the next seven years.<\/p>\n

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(Originally posted on : Crypto News – iGaming.org ) This week, Cathie Wood\u2018s ARK Invest acquired over 157,000 shares in Coinbase (COIN), the leading US cryptocurrency exchange, which is currently challenging the U.S. Securities and Exchange Commission (SEC). Get 125% \/ $2,500 on 1st deposit! New players only. Welcome Bonus – 125% bonus on your […]<\/p>\n","protected":false},"author":5,"featured_media":20295,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[34],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/20294"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=20294"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/20294\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/20295"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=20294"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=20294"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=20294"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}