Ark Invest buys more Coinbase shares

FlavienNovember 11, 2022

Less than a minute

On Nov. 9, Ark Invest increased its Coinbase holdings by purchasing $12.1 million worth of shares. The investment firm has sold off 1.4 million shares of FTX’s competitor back in July following the news of an SEC investigation into Coinbase.
The stock went up 10.74% on Thursday.
The exchange declared that they have minimal exposure to FTX, with only $15 million on deposit to « facilitate business operations and customer trades ».
CEO Brian Armstrong also stated on CNBC that they hold customer funds one-to-one backed.

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Flavien

Greetings, I go by the name of Flavien - a devoted supporter of cryptocurrency and a tech aficionado who has been keeping track of the developments in the world of blockchain and digital currencies since 2019. The potential of decentralized digital currencies to revolutionize our financial systems has captivated me, and I'm constantly exploring the most recent trends and advancements in this ever-evolving industry. As a content creator for Krypto Channel, my aim is to deliver informative and engaging articles that shed light on all aspects of the crypto world. Whether you're a seasoned investor or simply curious about blockchain technology, I am here to keep you updated on the latest happenings and trends. Being part of this lively and dynamic community is an honor, and I am thrilled to share my passion for cryptocurrency and blockchain with all of you.