Tag: Coinbase

Coinbase Custody Head Departs As Crypto Giant Prepares For Bitcoin ETF Services

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According to Bloomberg, Coinbase Global has recently experienced a change in leadership within its custody division. The departure of Aaron Schnarch, former CEO of Coinbase Custody, has been confirmed by a spokesperson, who also revealed that Schnarch was replaced by Rick Schonberg in August. Per the report, the transition aligns with Coinbase’s efforts to offer services to applicants of spot Bitcoin (BTC) exchange-traded funds (ETFs). Coinbase Affirms Readiness For Bitcoin ETF Approval Rick Schonberg, who joined Coinbase in 2021, aims to provide experience to his new role, having previously worked…

Coinbase appoints new head of custody amid Bitcoin ETF preparations

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Coinbase has changed its head of custody, potentially as a strategic decision for handling services related to spot Bitcoin ETFs. The departure of Aaron Schnarch, the former Chief Executive Officer of Coinbase Custody, marks a pivotal shift in the company’s leadership. Schnarch’s position has been filled by Rick Schonberg, who joined Coinbase in 2021 and brings experience from previous stints at Goldman Sachs, State Street, and Tagomi. Breaking: After @Grayscale shuffles their team before the ETF approvals, @Coinbase follows suit with Rick Schonberg replacing Aaron Schnarch at Coinbase Custody. Aaron…

Coinbase (COIN), Marathon (MARA), Riot Drop Near 10% as Bitcoin Price Dips to $42K

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Cathie Wood’s Ark Invest Sells Coinbase and GBTC Shares to Buy ProShares Bitcoin ETF (BITO)

Ark Invest purchased $92 million worth of ProShares Bitcoin Strategy ETF (BITO) and 4,320,928 units of the US Bitcoin futures-linked ETF. Cathie Wood’s asset management firm Ark Invest has actively engaged in portfolio rebalancing this year amid a surge in stock prices of crypto firms. In the latest development on Wednesday, December 27, Ark Invest divested its Coinbase holdings and all of its GBTC holdings. In a recent trade filing, the company led by Cathie Wood revealed the sale of 148,885 Coinbase shares valued at approximately $27.58 million on Wednesday.…

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…