Cathie Wood, founder, CEO, ARK Investment Management, announced that she is bullish over Coinbase in relation to Ripple’s partial victory over the Securities and Exchange Commission (SEC) on July 13, 2023, stated Cointelegraph.
It is believed that Wood also mentioned that the ruling wasn’t in outright favour of Ripple. She also marked the output as “by and large, very positive for [crypto] exchanges,” Cointelegraph added.
Sources revealed that Wood explained that despite receiving a Wells notice in March and after receiving a lawsuit from the SEC in June, the cryptocurrency exchange’s share price never fell. Supposedly, this shows the quality of the value of Coinbase stock, Coinbase highlighted.
According to Cointelegraph, despite the fact that many industry experts are expected to turn increasingly bullish on Coinbase. However, analysts from Berenberg Capital Markets, an investment firm, alerted that many aspects of regulation for cryptocurrency exchanges are not yet resolved.
(With insights from Cointelegraph)