The fall of the cryptocurrency industry spares no one. Since the start of the market crash, investors have taken heavy losses. Although some have decided to believe in the recovery of cryptocurrencies, others are forced to get rid of it. Recently, Ark Investment’s founder joined the latter’s ranks and distanced herself from Coinbase.
Coinbase, evolution and uncertainty
The universe of cryptocurrencies is vast and varied. Media exposure of cryptocurrencies has favored the emergence of trading platforms. Among them, Coinbase has long been the benchmark. In fact, the company is one of the best on the market and enjoys a huge reputation.
Created in 2012, it has grown and attracted many investors thanks to quality and reliability services. While everything seemed to be going well for the company, some aspects are slowing its progress. After leaving the ranking of the 10 best trading platforms in the world, the eyes of the negotiators are less grateful.
As the company loses market share to Binance, the SEC is already increasing the pressure on its shoulders. In fact, the SEC accuses Coinbase of deliberately deceiving Americans by selling them unregistered cryptocurrencies.
This investigation comes when the company faces a scandal. One of the managers was reportedly charged with internal fraud. Given Coinbase’s poor performance and all the accusations made against it, some investors are gradually withdrawing.
Ark Invest: Cathie Wood separates from her COIN shares
The collapse of the cryptocurrency markets is hurting many investors. When platforms also become the source of their problems, things usually go wrong. Cathie Wood of Ark Investment has sold nearly $ 1.41 million worth of Coinbase shares.
It is not the sale itself that is surprising, but the price at which they were sold. In fact, after buying the COIN stock for an average cost of $ 254.65, he resold them at a historically low price of $ 53. The reasons for this sale are varied and speculation is rife.
With all the charges currently pending against the Coinbase company, such deals aren’t really surprising. The regression of the trading platform makes one wonder. What is happening to the cryptocurrency market? Currently, Coinbase is going head-to-head with Uniswap, a DEX.
Although Coinbase has launched a petition, the SEC stands by its allegations. The regulation of the crypto markets is underway and the most affected are undoubtedly the giants of the centralized exchange such as Binance and Coinbase. Cathie Wood’s sale of Ark Investment shows what was expected. Indeed, investors prefer to anticipate regulation and take advantage of attractive DEX rates. Is already? end for the company?
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The world is changing and adaptation is the best weapon to survive in this undulating universe. As the crypto community manager at the base, I am interested in anything directly or indirectly related to the blockchain and its derivatives. To share my experience and introduce a field that fascinates me, nothing better than writing informative articles and relax at the same time.