Coinbase News: Ark Invest Boosts Coinbase Holdings Amid Crypto Market Dip

Ark Invest, a prominent investment firm led by Cathie Wood, has shown a strong commitment to Coinbase by significantly increasing its holdings in the cryptocurrency exchange despite the recent dip in the crypto market.

Ark Invest buys $14m in Coinbase stock despite crypto dip

Ark Invest, led by Cathie Wood, has acquired 64,358 shares of Coinbase for a total of $13,994,646. The firm has been increasing its Coinbase holdings, investing a total of $28.2 million in the past three weeks. Coinbase is now the third-largest asset in ARKK and the second-largest in ARKF. In February, ARK Invest purchased 41,032 shares worth $9.3 million when tech stocks and Bitcoin declined. Cathie Wood has previously predicted that Bitcoin could reach $1 million by 2030.

Coinbase Secures Re-Entry to Indian Crypto Market with FIU Approval

Coinbase has secured approval from India’s Financial Intelligence Unit (FIU), allowing it to re-enter the country’s crypto market. The exchange plans to launch retail trading services later this year, with further investments and product rollouts to follow. This move marks a fresh attempt by Coinbase to establish itself in India, after an earlier effort in 2022 failed to gain traction. However, this time appears different as Coinbase reaffirms its stance on working closely with regulators to ensure responsible crypto adoption. Securing FIU registration represents a major milestone in its global expansion strategy, focusing on compliance, security, and fostering innovation in a regulated environment.