The U.S. Securities and Exchange Commission (SEC) is the world’s largest cryptocurrency After the news that one of the exchanges, Coinbase, launched a counter-investigation, there was a decrease in Coinbase’s share prices.
Shares of Coinbase Golabal (COIN) fell to an all-time low of $52.93.
With this decline, the three funds of billionaire investor Cathie Wood’s Ark Investment Management are more than 1.4 million. Coinbase (COIN) announced the sale of shares.
The value of the shares sold is approximately $75 million.
One of the stock selling funds, ARK Innovation Exchange-Traded Fund (AARK), sold 1.13 million COIN shares, ARK Next Generation Internet ETF (ARKW) 174,611 COIN shares, and ARK Fintech Innovation ETF (ARKF) sold 110.218 COIN shares.
Ark Invest’s three selling funds later appeared to mostly buy shares of Shopify and Roku.
Cathie Wood’s had purchased Ark Invest at an average of $254 a share of Coinbase (COIN).
After the last sale, Ark Invest, coinbase It appears to have lost a large amount of its stock.
SEC states that Coinbase must be registered as a security cryptocurrencies He is investigating whether he is an intermediary in the trade.
SEC, While it believes Coinbase has listed the securities as unregistered, Coinbase said in a statement. cryptocurrency He denies the allegations against him, saying that his units were thoroughly analyzed and reviewed before they were listed on his platform.