Cathie Wood’s investment firm, Ark Invest, increased its stake in Coinbase following Binance’s decision to acquire FTX.
Ark Invest November 8 In the daily trading statement published on from 420,000 announced the acquisition of more shares. Experts of the company air of panic buying opportunity reported that he considered it.
Binance CEO Changpeng Zhao with FTX CEO Sam Bankman-Fried between 7-8 November The crypto money market Binance’s FTX, which has become more sensitive after the tension in historyhorse’s decision with a huge loss lived. Many cryptocurrencies, especially Bitcoin 10% with 20% lost in value. Native token of FTX FTT if of 77% on depreciated.
One of the assets affected by the drop was the US crypto exchange Coinbase. In a day 58.41 from dollars 47.70 up to dollars of 12% on drop lived. Ark Invest, which has been closely involved with Coinbase since the past, evaluated the situation and 23.1 million dollar amount 420,000 Coinbase bought the stock.
Ark Invest has also recently invested in crypto stocks. 7 million dollars had invested. Company, Jack Dorsey’s company block and world famous trading platform Robinhood announced that it had made an investment covering its shares.