Leaders.com
  • Business
  • Leadership
  • Wealth
  • Master Classes
  • Business
    • Entrepreneurs
    • Executives
    • Marketing and Sales
    • Social Media
    • Innovation
    • Women in Business
  • Leadership
    • Personal Growth
    • Company Culture
    • Public Speaking
    • Productivity
    • Hiring
    • Social Issues
    • Leaders
  • Wealth
    • Investing
    • Cryptocurrency
    • Retirement
    • Venture Capital
    • Loans and Borrowing
    • Taxes
    • Markets
    • Real Estate
  • Master Classes
Cryptocurrency

ARK Invest CEO Cathie Wood sold thousands of Coinbase shares on Tuesday (Marco Bello/Getty Images)

By Tyler Hummel Leaders Staff

Tyler Hummel

Tyler Hummel

Tyler Hummel is a news writer for Leaders Media. He was the Fall 2021 College Fix Fellow and Health Care...

Full bio


Learn about our editorial policy

Jul 12, 2023

Cathie Wood Finally Cashes Out On Coinbase 

ARK Invest CEO Cathie Wood, one of Wall Street’s leading investors, sold a large portion of her Coinbase stock amid peak valuations. 

Key Details

  • For the first time since July 26, 2022, Ark Innovation ETF sold 135,152 of its 11.03 million Coinbase shares on Tuesday. 
  • Wood’s firm has been adding Coinbase on dips since July 2022, taking advantage of the ongoing U.S. regulatory crackdown and the collapse of FTX to accumulate dipped stocks. 
  • Ark took advantage of Coinbase’s rally on Tuesday, with share prices peaking as high as $90.9. 
  • Coinbase is currently up more than 60% over last month and more than 140% since the beginning of the year, CoinTelegraph reports.  
  • ARK Fintech Innovation ETF had previously sold 160,887 Coinbase shares on March 21 for $84 per share. 
  • ARK Invest remains the fourth-largest holder of Coinbase shares and represents 6.2% of its total fund weightage.

Why It’s Important 

Coinbase has been facing months of lawsuits and battles with the Securities and Exchange Commission over allegations of unregistered securities, in addition to the cryptocurrency exchanges’ efforts to get Bitcoin EFTs approved. The agency formally filed a lawsuit against the exchange on June 6. Multiple Coinbase executives sold a total of 88,058 shares on the same day and previously sold thousands of shares in June.  

Regardless, Coinbase stocks rallied in the aftermath of the lawsuit and again on Tuesday after the Chicago Board Options Exchange reached an agreement over its application for Bitcoin ETF filings. 

“On June 12, 2023, the Exchange reached an agreement on terms with Coinbase, Inc., an operator of a United States-based spot trading platform for Bitcoin that represents a substantial portion of US-based spot trading platform for Bitcoin that represents a substantial portion of US-based and USD-denominated Bitcoin trading, to enter into a surveillance-sharing agreement (‘Spot BTC SSA’) and executed an associated term sheet,” says the filing. 

Wood previously bought 400,000 shares in June amid the Commission’s filings against Coinbase. She remains bullish on crypto, having declared in February that Bitcoin would eventually be valued at over $1 million per token. She reiterated this claim on June 19. She previously declared in January that digital wallets and blockchain technology are two of the most important technologies shaping the future.

Home / News / Cathie Wood Finally Cashes Out On Coinbase 
Share
FacebookTweetEmailLinkedIn

Related Stories

Seattle Takes The Crown For Advanced Tech Talent

by PJ Howland Leaders Staff
Tech

Oct 24, 2023

Seattle tech talent

Seattle has emerged as the metro area with the most advanced tech talent, beating out tech hubs like San Francisco and Silicon Valley.

Key Details

  • According to a new ranking by the Burning Glass Institute, Seattle has the highest proportion of advanced tech workers compared to other cities with similarly sized tech workforces.
  • The ranking evaluated 60 million high-paying, in-demand tech job postings and histories to identify cities with cutting-edge roles like AI and cybersecurity rather than legacy tech positions.
  • With tech giants Amazon and Microsoft headquartered in Seattle, the city edged out the San Francisco Bay Area, Boston, Austin, and Raleigh on the list.
  • The report found that demand for software developers and IT support specialists has declined over the past five years as companies seek more specialized tech talent.

Go deeper

FacebookTweetEmailLinkedIn

More Americans Can’t Keep Up With Car Payments

by Colin Baker Leaders Staff
Loans and Borrowing

Oct 23, 2023

car loans, used cars

A record number of Americans are behind on their car loan payments as higher interest rates and prices weigh on consumers.

Key Details

  • According to data from Fitch Ratings, 6.11% of car loans were at least 60 days delinquent in September, the highest since tracking began in the early 2000s.
  • Some interest rates on used cars can rise to as much as 21%, according to Bankrate.
  • Soaring prices and rising interest rates are squeezing consumers, making it difficult for some to keep up with their auto loans.

Go deeper

FacebookTweetEmailLinkedIn

Chevron Makes $53 Billion Deal Amid Surging Gas Prices

by PJ Howland Leaders Staff
Markets

Oct 23, 2023

Chevron Gas Deal

Chevron is acquiring Hess Corp. for $53 billion, the second significant oil producer acquisition this month as crude prices climb.

Key Details

  • Chevron is purchasing Hess in an all-cash deal worth $53 billion, including debt and preferred stock redemption.
  • This comes just weeks after ExxonMobil announced its $59.5 billion purchase of Pioneer Natural Resources.
  • With oil over $80 per barrel, major producers are using their windfall profits to acquire smaller players and boost payouts to shareholders.
  • Chevron expects the deal to close in H1 2023 pending regulatory approvals and Hess shareholder vote.
  • Hess CEO John Hess will join Chevron's board once the acquisition is complete.

Go deeper

FacebookTweetEmailLinkedIn
nike logo
Company Culture

Oct 20, 2023

Nike to Require More In-Office Days From Employees

by Colin Baker Leaders Staff
blue collar workers
Retirement

Oct 20, 2023

Explaining The ‘C+ Grade’ Retirement Ecosystem in The United States

by PJ Howland Leaders Staff
netflix building
Entertainment

Oct 19, 2023

Netflix Hiking Prices While Adding Millions of Subscribers

by Colin Baker Leaders Staff

Recent Articles

Hiring

Nov 1, 2023

Learn the Winning Answers to the Most Common Phone Interview Questions

Come to your next phone interview fully prepared

Personal Growth

Oct 30, 2023

85 Quotes on Self-Love to Boost Your Self-Esteem

Don’t fall into the trap of harsh self-criticism

Company Culture

Oct 27, 2023

What is a Sabbatical? Your Ticket to Restful Growth and Meaning

Sabbaticals can benefits both employees and businesses

  • Business
  • Leadership
  • Wealth
Join the Leaders Community

Get exclusive tools and resources you need to grow as a leader and scale a purpose-driven business.

Subscribing indicates your consent to our Terms & Conditions and Privacy Policy

Leaders.com
  • Privacy Policy
  • About
  • Careers
  • Cookie Policy
  • Terms
  • Disclosures
  • Editorial Policy
  • Member Login

© 2025 Leaders.com - All rights reserved.

Search Leaders.com