"Cathie Wood Increases Coinbase Stake Amid SEC Lawsuit and Crypto Market Volatility"
TL;DR Summary
Cathie Wood's ARK Investment Management purchased 419,324 shares of Coinbase, worth around $21.6 million, after the U.S. Securities and Exchange Commission sued the crypto exchange for violating federal securities law. The purchase took ARK's total Coinbase holdings to 11.44 million shares, valued at around $590 million. Coinbase's stock was down over 12% at the end of U.S. trading hours on Tuesday.
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