Cathie Wood's Ark Invest has sold 1.41M in Coinbase shares — however, her investment firm still thinks that BTC could hit $1M by 2030...🤯 Read more here ⬇️
But the mood music has been changing, with a former Coinbase employee recently charged with the insider trading of cryptocurrencies.
Earlier this week, reports also suggested that the U.S. Securities and Exchange Commission has launched an investigation into the exchange. The SEC is examining whether Coinbase has allowed American users to trade digital assets that should have been registered as securities.What's more, the combination of a reported SEC probe and a fresh downturn in the crypto markets has contributed to a 21.1% slide for COIN in the past week.
Cathie Wood's flagship Ark Innovation ETF hasn't been immune from these selloffs, with losses of 58% in the first six months of the year. The entrepreneur, who has been vocal in her praise for Bitcoin, recently said that she believes the U.S. is already in a recession.
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