SEC’s rooted bitcoin Is Coinbase next after it targets Kraken, one of its stock exchanges? questions entered the agenda of crypto money lovers.
Upon these rumors, Coinbase made a strong exit by stating that it is ready to fight the SEC legally and will not surrender to the SEC immediately.
coinbase And SEC The tension between the two hurt Coinbase shares the most. Following these news, the price of COIN dropped 24%.
An investor saw this decline as an opportunity and increased his purchases.
Ark Invest, which we also know for its investments in Bitcoin funds, has made a large amount of money after the last drop. COIN stake took.
According to the latest investment notes, Ark Invest, led by Cathie Wood, received $9.2 million shares of COIN on February 11 and $6.7 million on February 13. While Ark Invest’s recent purchases exceeded $15 million, the COIN price continues to trade at $56 levels.
Coinbase will release its Q4 2022 earnings report next week. Due to the expected bear market coinbaseThere is a serious decrease in the transaction volumes of .
Coinbase stock has a close correlation with Bitcoin. Ark Invest’s purchase of Coinbase stock can be interpreted as an upward movement expectation in Bitcoin price. Since such corporate companies cannot buy Bitcoin directly, they increase their exposure through companies that identify with Bitcoin.
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