Cathie Wood’s ARK buys $21 million worth of Coinbase stock

Cathie Wood’s ARK buys $21 million worth of Coinbase stock



ARK Invest CEO Cathie Wood doesn't seem to have been swayed by recent regulatory action involving cryptocurrencies. She purchased an additional $19.9 million shares of Block Inc. shortly after purchasing $21 million worth of Coinbase stock.



Despite the US Securities Commission suing two of the top exchanges in the market, Binance (June 5) and Coinbase (June 6), for providing what the regulator views as unregistered securities among other things, Wood's most recent purchasing frenzy has occurred.



The days after the SEC complaint have seen a decline in the share price of Coinbase, while during that same time, Block Inc. shares experienced a strong increase.



According to ARK Invest Daily Trades, the 305,573 more shares of Block that ARK Invest purchased over the course of six buys between June 7-8 now rank as the


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#ARKInvest, #BlockInc, #CathieWood, #Coinbase, #Cryptonewstoday

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