Busy Week For Coinbase
Posted on 07/18/2023
Cathie Wood’s ARK Innovation Fund let go of US$ 50.5 million in Coinbase stock following its price bump to US$ 100. Meanwhile, Coinbase CEO Brian Armstrong is gearing up for a meeting with members of the House of Representatives to discuss regulations. Coinbase has also reluctantly decided the process of staking, where holders of cryptocurrency can earn rewards, will be banned on its platform in California, New Jersey, South Carolina, and Wisconsin. State leaders there have called for an end to the process. Coinbase said it did not agree, but will comply with orders while the legal framework for crypto assets is being worked out.
