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Cathie Wood Dumps Coinbase Shares for First Time This Year

  • Ark funds sold about 1.41 million Coinbase shares on Tuesday
  • Coinbase stock plunged 21% amid reports of SEC probe
Coinbase CEO Brian Armstrong at the Company's Event In India
Photographer: Samyukta Lakshmi/Bloomberg
Updated on

Funds controlled by Cathie Wood dumped Coinbase Global Inc.’s stock for the first time this year as the the largest US crypto exchange faces a probe.

Three Ark Investment Management LLC funds sold slightly over 1.41 million shares, which were worth about $75 million as of Tuesday’s close, according to Ark’s daily trading data compiled by Bloomberg. The firm’s flagship Ark Innovation ETF sold 1.13 million shares.