{"id":21443,"date":"2023-06-07T12:40:17","date_gmt":"2023-06-07T12:40:17","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/ark-investment-management-doubles-down-on-coinbase-amidst-sec-lawsuit\/"},"modified":"2023-06-07T12:40:17","modified_gmt":"2023-06-07T12:40:17","slug":"ark-investment-management-doubles-down-on-coinbase-amidst-sec-lawsuit","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/ark-investment-management-doubles-down-on-coinbase-amidst-sec-lawsuit\/","title":{"rendered":"Ark Investment Management Doubles Down on Coinbase Amidst SEC Lawsuit"},"content":{"rendered":"<p><b>(Originally posted on : Crypto News &#8211; iGaming.org )<\/b><br \/>\n<\/p>\n<div>\n<p>Ark Investment Management, the second-largest holder of Coinbase Global (COIN) stock, has increased its investment in the cryptocurrency exchange in response to the Securities and Exchange Commission\u2019s (SEC) lawsuit. The move comes as Coinbase\u2019s share price has plummeted as a result of the regulatory action.<\/p>\n<h3>Ark Investment Management Bolsters Coinbase Position<\/h3>\n<p>Ark Investment Management has increased its investment in the crypto exchange. Based on Tuesday\u2019s closing price of $51.61, the business purchased an additional 419,324 shares of <strong><a href=\"https:\/\/igaming.org\/crypto\/coinbase-faces-sec-charges-latest-blow-to-crypto-industry\/\">Coinbase<\/a><\/strong>, totaling nearly $21.6 million. Ark\u2019s Innovation ETF (ARKK), Next Generation Internet ETF (ARKW), and Fintech Innovation ETF (ARKF) received the funds. Ark\u2019s first purchase of Coinbase shares since May 3 brings the entire ownership to 11.44 million shares at around $590 million.<\/p>\n<div class=\"main-org-3-item-ins box-100 relative mb-4\">\n<div class=\"space-org-3-items box-100 relative\">\n<div class=\"box-100 space-org-3-item relative border-tb mt-1 \">\n<div class=\"space-org-3-item-ins box-100 relative\">\n<div class=\"space-org-3-item-terms box-25 relative\">\n<div class=\"space-org-3-item-terms-ins box-100 text-center relative\"> <strong>5BTC or 100% + 100 Free Spins!<\/strong> <\/p>\n<p>New players only. Welcome Bonus &#8211; 100% bonus on your first deposit up to 5 BTC <\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<h3>SEC Lawsuit against Coinbase<\/h3>\n<p>The Securities and Exchange Commission (SEC) has launched a complaint against Coinbase, accusing the business of breaking federal securities laws. The regulatory body claims that Coinbase operated as a broker, exchange, and clearing agency all at the same time without being registered as any of these entities. The Coinbase complaint was filed just one day after a similar suit was brought against Binance, the world\u2019s largest digital asset exchange. At the end of U.S. trading hours on Tuesday, Coinbase\u2019s stock had dropped more than 12%. Despite the setback, Coinbase shares have up more than 50% year to date.<\/p>\n<h3>Ark Investment Management\u2019s Belief in Coinbase<\/h3>\n<p>Ark Investment Management\u2019s decision to raise its investment in Coinbase despite the SEC action reflects the firm\u2019s unflinching belief in the cryptocurrency exchange\u2019s long-term potential. Ark\u2019s decision, as one of the most important institutional investors in the crypto industry, provides a favorable signal to the market, emphasizing the market\u2019s view that Coinbase will successfully traverse the regulatory obstacles.<\/p>\n<\/p><\/div>\n<p><a href=\"https:\/\/igaming.org\/crypto\/ark-investment-management-doubles-down-on-coinbase-amidst-sec-lawsuit\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : Crypto News &#8211; iGaming.org ) Ark Investment Management, the second-largest holder of Coinbase Global (COIN) stock, has increased its investment in the cryptocurrency exchange in response to the Securities and Exchange Commission\u2019s (SEC) lawsuit. The move comes as Coinbase\u2019s share price has plummeted as a result of the regulatory action. Ark [&hellip;]<\/p>\n","protected":false},"author":35,"featured_media":21444,"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\/21443"}],"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\/35"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=21443"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/21443\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/21444"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=21443"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=21443"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=21443"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}