Cathie Wood: Sell some Coinbase shares due to US SEC investigation or change in business model

According to Bloomberg News, Cathie Wood, CEO of Ark Fund (Ark), explained the reasons for selling Coinbase shares in July, saying that due to the uncertainty of the US Securities and Exchange Commission (SEC) investigation, which may change Coinbase’s business model, he chose to sell some of them. But as of now, the fund still owns nearly 5 million shares of Coinbase stock. Foresight News previously reported that in July, Cathie Wood's Ark Fund sold 1.41 million shares of Coinbase stock for the first time this year, worth about $75 million, but since its sale, Coinbase has risen by more than 80%.