December 9, 2022

Market and Financial News

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Cathie Wood Watch: Ark CEO Goes Gonzo for Coinbase

2 min read

Celebrity money manager Cathie Wood has talked the talk in support of cryptocurrencies for quite some time, predicting in January that bitcoin will hit $1 million by 2030.

She continues to walk the walk too. As cryptocurrency conglomerate FTX has melted down into rubble, the chief executive of Ark Investment management has been snapping up shares of Coinbase Global COIN like nobody’s business.

Coinbase is the country’s largest cryptocurrency exchange. Its stock is hitting the trash bin, plunging 82% year to date, as digital currency trading dries up amid the industry’s turmoil. Coinbase lost $544.6 million in the third quarter.

2022-11-22 13:24:00

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