ARK scopes more Coinbase shares as prices tumble after SEC suit

ARK scopes more Coinbase shares as prices tumble after SEC suit
фото показано с : invezz.com

2023-6-7 11:49

In what appears to be confidence in Coinbase winning the legal battle against the US Securities and Exchanges Commission (SEC), Cathie Wood’s Ark Investment Management has bought 419,324 Coinbase shares (NASDAQ: COIN) as prices tumbles.

Coinbase has promised to stage a spirited fight for the sake entire crypto industry. However, its stock has suffered a heavy blow after it dropped by 12.09% in a single day following the announcement that the SEC had sued it.

SEC’s issue with Coinbase

As earlier reported here, the US SEC alleges that Coinbase has been operating as an unlicensed broker, exchange, and clearing agent.

In a tweet responding to the SEC suit, Coinbase clearly stated that they can’t understand why the SEC could go after them despite being cleared to become a public company in 2021. In the reply, Coinbase states:

“Regarding the SEC complaint against us today, we’re proud to represent the industry in court to finally get some clarity around crypto rules.

Remember: 1. The SEC reviewed our business and allowed us to become a public company in 2021. 2. There is no path to “come in and register” – we tried, repeatedly – so we don’t list securities. We reject the vast majority of assets we review. 3. The SEC and CFTC have made conflicting statements, and don’t even agree on what is a security and what is a commodity. 4. This is why the US congress is introducing new legislation to fix the situation, and the rest of the world is moving to put clear rules in place to support this technology.”

Coinbase woes follow those of its rival crypto exchange Binance which had earlier been charged with almost the same allegations by the SEC. Interestingly, the SEC suit came barely hours after Coinbase Legal Officer Paul Grewal testified before Congress over the new cryptocurrency bill.

Ark’s Coinbase shares

The recent Coinbase shares purchase, which is the first since May 3, took ARK Invest’s total Coinbase holdings to 11.44 million shares valued at around $590 million. The investment management company bought 419,324 COIN shares, valued at $21.6 million based on Tuesday’s closing price of $51.61.

The acquired shares were shared among ARK’s Next Generation Internet ETF, the Fintech Innovation ETF, and Innovation ETF.

The post ARK scopes more Coinbase shares as prices tumble after SEC suit appeared first on Invezz.

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coinbase sec ark prices shares coin wood

Источник: invezz.com

coinbase sec → Результатов: 126


Фото:

Эдвард Сноуден: «SEC проиграет судебную тяжбу с Coinbase»

Бывший сотрудник ЦРУ Эдвард Сноуден предположил, что у крупнейшей американской криптобиржи Coinbase есть большие шансы выиграть судебное разбирательство с Комиссией по ценным бумагам и биржам США (SEC).

2024-3-29 12:55


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Решение, принятое окружным судьей США Кэтрин Фаилла (Katherine Failla), позволяет Комиссии по ценным бумагам и биржам США (SEC) предъявить иск, согласно которому Coinbase работает как незарегистрированная биржа и занимается предложением и продажей ценных бумаг.

2024-3-28 19:35


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Главный юрист Coinbase: «Мы нашли противоречия в заявлениях SEC о криптовалютах»

Юристы крупнейшей американской криптовалютной биржи Coinbase направили ходатайство в апелляционный суд третьего округа США с требованием заставить SEC разработать четкие правила по регулированию криптовалют.

2024-3-12 10:33


Фото:

Coinbase vs. SEC: potential impact of a spot Bitcoin ETF approval

The legal fight between SEC and exchange Coinbase appears overlooked as markets stare at the January 10 deadline for spot Bitcoin exchange-traded fund approval deadline. Meanwhile, an ETF authorization might see Coinbase cementing its market relevancy by offering custody and trading services to leading financial institutions, including BlackRock and Grayscale. SEC vs. Coinbase legal battle […]

2024-1-10 11:36


Coinbase Opens Appeal Against ‘Arbitrary and Capricious’ SEC Regulations Denial

Coinbase has filed an appeal against the SEC's denial to classify cryptocurrencies as securities, challenging the decision as "arbitrary and capricious. " This action signifies a major step in the ongoing quest for regulatory clarity in the cryptocurrency market, with Coinbase leading the charge against the SEC's slow response and perceived regulatory overreach.

2023-12-19 11:43


Coinbase: SEC превышает полномочия

SEC вышла за рамки своих компетенций в отношении криптовалют в деле против Coinbase. Об этом говорится в ответе биржи на иск регулятора. По словам представителей Coinbase, перечисленные в претензии активы не являются инвестиционными контрактами и, следовательно, не могут приравниваться к ценным бумагам.

2023-6-30 18:46


Coinbase не будет делистить токены из-за SEC

Криптовалютная биржа Coinbase не собирается проводить делистинг токенов, которые, по заявлению Комиссии по ценным бумагам и биржам (SEC), считаются ценными бумагами. Генеральный директор компании Брайан Армстронг в интервью Axios заявил, что Coinbase будет продолжать вести бизнес по обычным правилам, и торговля указанными активами продолжится до вынесения решения суда.

2023-6-9 16:45


Фото:

CoinGecko: Объемы торгов на DEX выросли на 444% на фоне иска SEC к Binance и Coinbase

По данным сервиса CoinGecko, медианный объем торгов на децентрализованных криптобиржах (DEX) за последние два дня вырос на 444%. Аналитики связывают это с иском SEC к биржам Coinbase и Binance.

2023-6-7 09:19


The SEC strikes again: First Binance, now Coinbase

Key takeaways The US SEC has sued crypto exchange Coinbase for acting as an unregistered broker. This latest development comes a few hours after the regulatory agency sued Binance. SEC sues Coinbase for acting as an unregistered broker The United States Securities and Exchange Commission (SEC) has filed a lawsuit against Coinbase, one of the […] The post The SEC strikes again: First Binance, now Coinbase appeared first on CoinJournal.

2023-6-7 15:51


Coinbase has lodged a court petition requesting that the SEC respond to a rulemaking petition the firm had submitted in 2022.

Coinbase, a cryptocurrency exchange, has taken a proactive approach by filing an Administrative Procedure Act challenge against the U. S. Securities and Exchange Commission (SEC). In this filing, Coinbase requests that the Third Circuit Court of Appeals compel the SEC to provide clarity regarding how current securities laws could apply to digital assets.

2023-4-25 16:09


SEC грозится подать в суд на Coinbase за нарушение законов о ценных бумагах

Комиссия по ценным бумагам и биржам США (SEC) предупредила криптобиржу Coinbase, что может принять против нее принудительные меры за продажу незарегистрированных ценных бумаг.

2023-3-23 09:49


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