Catie Wood, the founder of ARK Investment Management, has resumed buying shares of Coinbase (COIN) after a nearly month-long break. On Friday, ARK disclosed that it had purchased 162,325 shares of COIN, worth $3.3 million. This is the second time ARK has purchased shares of the exchange, the first being in mid-January. Wood has been a long-time supporter of Coinbase, and her latest purchase is a sign of her continued confidence in the company. Coinbase is one of the largest cryptocurrency exchanges in the world, and Wood’s investment is a sign of her belief in the future of the crypto industry.
Coinbase, a leading digital asset exchange, recently purchased a $9.2 million stake in a staking product. This purchase comes as the U.S. Securities and Exchange Commission (SEC) is increasing its scrutiny of the digital assets industry. While the SEC has not yet taken action against Coinbase’s staking product, there is a possibility that it may do so in the future. This purchase is a sign that Coinbase is confident in its ability to navigate the regulatory landscape and remain compliant with SEC regulations. Coinbase’s purchase is a strong indication that the digital asset industry is here to stay and that it is becoming increasingly regulated.
Paxos, a financial technology company, is the latest target of the U.S. Securities and Exchange Commission’s (SEC) enforcement campaign over its Binance USD (BUSD) token. The SEC is reportedly investigating whether Paxos violated securities laws by offering the token without registering it as a security. Meanwhile, ARK Investment Management’s two ETFs, the ARK Innovation ETF (ARKK) and the ARK Fintech Innovation ETF (ARKF), have seen significant gains this year, with ARKK up 28% and ARKF up 25%. Investors looking to capitalize on the growth of the fintech industry may want to consider these ETFs as part of their portfolio.
