Cathie Wood boosts Coinbase stake as SEC crypto crackdown widens

Cathie Wood’s funds boosted their holdings of Coinbase Global as shares slumped after the US Securities and Exchange Commission accused the company of operating an unlawful exchange.

Three Ark Investment Management funds, including Wood’s flagship Ark Innovation ETF, bought 419,324 shares of the cryptocurrency exchange operator Tuesday (Wednesday AEST) as it tumbled as much as 21 per cent, data compiled by Bloomberg show. The SEC made similar charges against Binance Holdings at the start of the week.

Bloomberg