• November 30, 2023


All the latest cryptocurrency news

Ark Invest Spends $3M to Acquire Coinbase Shares

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ARK Invest’s fund Ark Innovation ETF (ARKF) has just acquired 78,982 Coinbase shares for about $3 million.

As a result of this acquisition, the total position of the structure has reached 5.7 million shares. Considering the closing price of $40.24 on December 9, she position of the company has a value of around $229.37 million.

Since the beginning of 2022, the price of the shares of the exchange has crashed by more than 80%.

Coinbase CEO Brian Armstrong has previously ruled out the impact of the FTX crash on the platform.

On December 8, he admitted that against the backdrop of the crypto winter, the exchange’s revenues for the year will be halved relative to 2021.