On March 23, Coinbase shares lost 16% in price after the announcement of the completion of the investigation by the U.S. Securities and Exchange Commission (SEC). Representatives of the law stated that there was collected evidence of a violation of the securities law in sufficient volume to apply coercive measures to the crypto exchange.
Coinbase management has until March 29 to inform the SEC whether it plans to challenge this decision. Note that last Friday, the shares of the crypto exchange have already increased by 1.5%. Their cost at the end of the week was $67.83.
According to the data from the email ARK Innovation EFT (ARKK) acquired 155,833 shares, ARK Next Generation Internet EFT (ARKW) bought 26,395 shares.
Recall that in February 2023, Ark Invest began actively buying Coinbase shares, spending a total of $16 million per month on them. In early March, securities of the American crypto exchange were also purchased in the amount of $ 3.44 million.
Also on Friday, ARK acquired Block (SQ) shares worth $18.1 million after the shares fell 17% due to a negative report by investment research firm Hindenburg Research. The report reported that Block greatly overestimates the number of real users and hides the real costs of attracting customers.
Trading on Block shares on Friday closed down 1.2% to $60.88 per share.