Tag: Coinbase

Coinbase (COIN) Stock Could Indicate Index Play for TradFi Institutions Looking for Crypto Exposure

The analyst said TradFi institutions trying to get into crypto, but are unsure how to begin, may use Coinbase stock to enter. According to the co-founder of research firm Reflexivity Research Will Clemente, shares of major cryptocurrency exchange Coinbase Global Inc (NASDAQ: COIN) could serve as an indicator for the crypto sector. Clemente says Coinbase shares could be an “index play” for traditional finance (TradFi) firms looking for a way into the industry. Clemente offered his opinion while speaking on an X (formerly Twitter) Space hosted by Bitcoin bull and…

ARK Invest continues Coinbase sell-off, surpassing $200m in December sales

ARK Invest, headed by Cathie Wood, offloaded an additional 80,118 shares of Coinbase, valued at $13.5 million, from two of its investment funds, coinciding with the stock’s ongoing surge in December. On Dec. 21, ARK Invest sold 68,769 Coinbase shares valued at $11.6 million from its Innovation ETF and 11,349 shares worth $1.9 million from its Next Generation Internet ETF. With the recent sale of $30 million in Coinbase shares earlier this week, combined with the $108 million and $59 million worth of shares sold in the first and second…

Coinbase Secures VASP License in France as It Continues Expansion in Europe

Coinbase has officially received a license in France and can offer French users trading, custody, and several other related crypto services. Major American crypto exchange Coinbase Global Inc (NASDAQ: COIN) has officially registered as a virtual asset service provider (VASP) in France. The exchange is fully permitted to handle crypto services in the countries, allowing it to continue its expansion into Europe. Users in France can now buy or sell supported cryptocurrencies in legal tender or against other crypto assets, as well as use retail and institutional services, including custody. According to…

Ark Invest Continues to Trim Holdings in Coinbase (COIN) and GBTC

Amidst the sell-off, Ark Invest has strategically acquired 158,334 shares ($12.1 million) in Jack Dorsey’s Block Inc for its Next Generation Internet ETF.  Ark Invest, a renowned asset management firm led by Cathie Wood, has been making strategic adjustments to its portfolio, most notably in its dealings with Coinbase Global Inc (NASDAQ: COIN) and Grayscale Bitcoin Trust (GBTC). According to the company’s recent trade filing, Ark Invest sold additional tranches of Coinbase shares, offloading a total of 149,780 COIN ($24.2 million) from two of its funds as the stock reached…

Coinbase Builds Runway for Mass Adoption of Crypto Assets and Web 3.0 Industry

With about 425 million owning crypto and more than 80 percent of G20 countries moving towards enabling digital assets, Coinbase is confident the industry will unlock economic freedom to billions of users. The cryptocurrency industry has continued to evolve with the market needs and the fast-changing global regulatory landscape. The trillion-dollar industry is preparing for mass adoption with about 425 million global investors owning various crypto assets. Moreover, more governments around the world have been perpetuating poor monetary policies that weigh heavily on ordinary investors over the years. With Bitcoin…

Coinbase (COIN), Fidelity, Pantera, a16z Cryptocurrency Outlooks

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Bitcoin Returned 150% in 2023 but Still Less than Coinbase and BTC Miners, Matrixport Reveals

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Matrixport revealed that although Bitcoin has climbed more than 150% this year, miners have done much more. A recent Matrixport has compared Bitcoin’s performance to that of a few crypto firms, highlighting their year-to-date (YTD) increases. According to a Matrixport report, Bitcoin has already significantly outperformed the Nasdaq at +150%, over 53%. Current data from MarketWatch shows that Bitcoin has crossed 160%. Although the world’s king coin’s performance has been impressive, others have bigger gains. For instance, major crypto exchange Coinbase Global Inc (NASDAQ: COIN) has climbed more than 333%, according to data…

Coinbase, a16z, Ripple and Others Invest $78M in Pro-crypto PAC Ahead of US Elections 2024

With the mass adoption of digital assets in the United States, notable presidential candidates have shown support for the blockchain and crypto asset industries. The crypto market has faced immense regulatory scrutiny from the current US government led by President Joe Biden. The lack of a clear crypto regulatory framework has left significant room for the United States Securities and Exchange Commission (SEC) and other federal agencies to crack down on web3 companies with decades-old policies. However, the mass adoption of crypto assets and web3 protocols in the United States…