Cathie Wood Says Binance Legal Woes Good for Coinbase

Wood says Binance’s problems reduce Coinbase’s competition
Wood remains confident in $1 million target for Bitcoin

WATCH: Ark Invest CEO & CIO Cathie Wood explains why her funds have boosted their holdings of Coinbase and discusses why she believes that AI will be the biggest catalyst to innovation.Source: Bloomberg

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By Ainsley Thomson, Haidi Lun, and Shery Ahn

June 7, 2023 at 11:18 PM UTC

Corrected

June 8, 2023 at 3:18 PM UTC

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Cathie Wood said Binance Holdings Ltd.’s US legal problems will benefit its rival Coinbase Global Inc.

The world’s two biggest cryptocurrency exchanges are facing a regulatory crackdown including allegations this week filed by the US Securities and Exchange Commission that they are peddling unregistered securities.