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Cathie Wood sells Coinbase shares amid insider trading allegations

Cathie Wood sells Coinbase shares amid insider trading allegations

One of the largest stockholders of the Coinbase

According to a report by Bloomberg, Ark is the third-biggest shareholder of Coinbase, holding nearly 9 million shares by the end of June. The liquidation reportedly became Ark’s first sale of COIN this year.

Coinbase is reportedly facing a probe from the U.S. Securities and Exchange Commission (SEC) over the company’s potential involvement in crypto insider trading. SEC commissioner Caroline Pham expressed concerns that Coinbase might have improperly let Americans trade digital assets that should have been registered as securities.