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- ☕️ Woke up with BVE: Big Volcano Energy 😏
GM Brew Crew, if you don’t already know, the Northeast is getting smoked out from Canadian wildfires. Let us be your gas mask this morning. Let’s dive in ⬇️
On the menu today:
ARK BUYS THE DIP AFTER A LAWSUIT?! 📉
EL SALVADOR TAKING $BTC MINING TO ANOTHER LEVEL 🌋
AI INVESTMENT RESCUES FTX? 🤔
Today’s Charts:
Snapshot taken at 10:56am EDT
Snapshot taken at 10:56am EDT
ARK BUYS THE DIP AFTER A LAWSUIT?! 📉
ARK Invest, a prominent investment firm, purchased over $21 million worth of Coinbase stock on the same day the cryptocurrency exchange was hit with a lawsuit from the SEC.
On the same day that Coinbase received legal notice from the SEC and its stock price fell over 20%, ARK Invest bought over 400,000 shares of Coinbase stock, $COIN, for more than $21 million.
This is not the first time ARK Invest has added Coinbase stock to its portfolio, having made previous investments in March, April, and May of this year.
Coinbase CEO Brian Armstrong expressed confidence in their position and welcomed the opportunity to gain clarity on crypto regulations in court, while the company's chief legal officer highlighted their commitment to regulation and frequent engagement with the SEC.
Cathie Wood's Ark Invest buys Coinbase shares worth $21 million, despite SEC lawsuit.
Is Cathie’s Coinbase bullishness going to pay off? 👀
— Crypto Crib (@Crypto_Crib_)
8:32 AM • Jun 7, 2023