Ark Invest Continues Buying into Coinbase Despite Market Challenges
Ark Invest, led by Cathie Wood, has continued to invest in Coinbase despite recent market challenges.
This comes after purchasing over $15 million worth of shares in the past two days, despite the dwindling price and regulatory risks associated with the cryptocurrency exchange.
Shares in Coinbase closed at $56.40 on Monday, down 1.2%.
The exchange faces potential headwinds due to regulatory risk and a lack of retail investors returning to the platform.
Coinbase is set to release its Q4 earnings next week, which are expected to show a significant year-on-year decline in trading volumes and monthly transacting users.