bitcoin
bitcoin

$95238.96 USD 

-1.69%

ethereum
ethereum

$3402.98 USD 

2.53%

tether
tether

$1.00 USD 

-0.07%

solana
solana

$240.51 USD 

-2.64%

bnb
bnb

$641.02 USD 

-1.46%

xrp
xrp

$1.41 USD 

4.97%

dogecoin
dogecoin

$0.407396 USD 

-0.58%

usd-coin
usd-coin

$0.999933 USD 

0.00%

cardano
cardano

$0.995814 USD 

3.01%

avalanche
avalanche

$43.25 USD 

9.20%

tron
tron

$0.197537 USD 

-2.90%

toncoin
toncoin

$6.04 USD 

1.61%

stellar
stellar

$0.498312 USD 

11.97%

shiba-inu
shiba-inu

$0.000025 USD 

0.52%

polkadot-new
polkadot-new

$8.56 USD 

0.86%

Cryptocurrency News Articles

ARK's Coinbase Conundrum: Doubling Down on Crypto or Losing Faith?

Mar 23, 2024 at 03:07 am

Tech investment firm ARK Invest, led by Cathie Wood, has sold $52 million worth of Coinbase (COIN) stock. This recent sale follows an earlier divestment of $96 million in COIN shares. Despite these sales, ARK remains a significant holder of Coinbase stock. Coinbase, the leading cryptocurrency exchange in the US, has seen a significant rise in its stock price recently, with a 50% increase over the past month and a 236% year-to-date growth.

ARK's Coinbase Conundrum: Doubling Down on Crypto or Losing Faith?

Is ARK Doubling Down on Crypto or Losing Faith in Coinbase?

Tech investing mastermind Cathie Wood's ARK Invest has unloaded a chunk of its Coinbase holdings, raising eyebrows in the crypto community. The firm sold 199,526 shares across its three flagship ETFs, ARKK, ARKW, and ARKF, shedding $52 million worth of COIN.

The Big Coinbase Sell-Off

This isn't the first time ARK has cashed out on Coinbase. Earlier this month, it parted ways with $96 million worth of COIN. Wood's previous confidence in the crypto exchange now appears to be waning.

ARK's Crypto Enthusiasm

Despite the Coinbase divestment, ARK Invest remains a major player in the crypto space. Wood has been a vocal advocate for Bitcoin, predicting that the digital asset will dethrone gold as a store of value.

Coinbase's Rollercoaster Ride

America's top crypto exchange, Coinbase, has seen its stock price surge recently. Over the past month, it's soared by 50%. Year-to-date, COIN has shot up by an impressive 236%.

Q4 Earnings Surprise

Coinbase's recent earnings report showed a profit boost from interest earned on its stablecoin reserves. This financial maneuver has helped the company weather the crypto winter.

Is ARK's Sell-Off a Bearish Signal?

While ARK Invest remains a major Coinbase shareholder, its recent sell-off is sending mixed signals. Is it a sign of declining confidence in Coinbase or merely a tactical move to rebalance its portfolio? Only time will tell.

Disclaimer:info@kdj.com

The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!

If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.

Other articles published on Nov 25, 2024