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Tag Archives: coinbase

Ark Invest Loads up on Coinbase Stock Amid Market Dump

During the bloodbath that plagued financial markets on Monday, Cathie Wood’s investment management firm Ark Invest loaded up on shares of the largest American cryptocurrency exchange, Coinbase, ending months of selling the stock. According to a tweet from Ark Invest outlining its trade activity for August 5, the company purchased 93,797 Coinbase shares (COIN) worth approximately $17.8 million at an average price of $189 per share. Ark Invest Buys Coinbase Shares Ark Invest...

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SEC Requests Court to Deny Coinbase’s ‘Broad’ Subpoena Request

The U.S. Securities and Exchange Commission (SEC) has asked a New York court to reject Coinbase’s subpoena, which seeks to compel the agency to produce documents related to crypto assets. The SEC described them as covering “essentially all documents that in any way relate to crypto assets.” SEC Opposes Coinbase’s Subpoena Request The motion filed on Monday represents the latest development in the legal battle between the SEC and Coinbase. The exchange is attempting to...

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Coinbase Q2 Revenue Hits $1.45B, Net Income Drops Sharply

Coinbase reported a total revenue of $1.449 billion for the second quarter, surpassing the market consensus estimate of $1.396 billion. However, this figure represents an 11% decrease from the first quarter, partly attributed to falling consumer transaction revenues. Coinbase Q2 Revenue Drops 29% Coinbase’s Q2 consumer transaction revenues fell 29% to $665 million, down from $1.07 billion in Q1. However, stablecoin revenue increased to $240.4 million from $197.3 million. The...

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