Cathie Wood’s Ark sells 1.42 million Coinbase shares

Coinbase shares closed down more than 20% at $52.93 on Tuesday

US Securities and Exchange Commission was investigating whether Coinbase let Americans trade digital assets that should have been registered as securities
US Securities and Exchange Commission was investigating whether Coinbase let Americans trade digital assets that should have been registered as securities

Cathie Wood’s Ark Invest sold 1.42 million shares of cryptocurrency exchange Coinbase Global Inc, according to Tuesday’s trading data from the investment company, following report of a probe by the U.S. securities regulator.

 The U.S. Securities and Exchange Commission was investigating whether Coinbase improperly let Americans trade digital assets that should have been registered as securities, Bloomberg News reported on Monday.

Coinbase shares closed down more than 20% at $52.93 on Tuesday.

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