Tech Giant Intel Owns A Stake In Coinbase

Tech Giant Intel Owns A Stake In Coinbase
фото показано с : zycrypto.com

2021-8-14 17:19

The world’s largest semiconductor chip manufacturer, Intel, has made a minor bet in the future of the cryptocurrency market with an investment in the largest cryptocurrency exchange in the U.S, Coinbase.

Intel Discloses Stake In Coinbase Crypto Exchange

Intel disclosed on Friday that it purchased 3,014 COIN shares during its Q2 ending June 26. The shares are worth approximately $787,000 at the time of publication, based on Coinbase’s current share price of $261,24. Considering the chip giant’s $215 billion market capitalization, this purchase seems tiny. However, it marks Intel’s first substantial investment in the cryptoverse.

Barron’s notes that Intel might have bought the shares before Coinbase started trading publicly on the Nasdaq via a direct listing in April. But the stake in Coinbase is below the 5% threshold, which means the exchange was not obligated to report it before going public. Intel, however, had to disclose to the United States Securities and Exchange Commission (SEC) as it holds more than $100 million in investments as a publicly traded company.

The company, which has been a major player in computer processing for decades, won a patent for a system designed to improve the efficiency of bitcoin mining three years ago. Intel’s purchase of Coinbase stock appears to be a bet on the crypto market. This is because the exchange’s share value tends to move in tandem with crypto prices.

For instance, Coinbase’s stock took a hit in May right around the same time crypto assets crashed hard. The exchange’s stock is back on the rise as crypto bulls also attempt to push prices higher in recent weeks.

Coinbase announced its second-quarter earnings earlier this week, which exceeded the expectations of analysts. According to the report, Coinbase registered $1.9 billion in transaction revenue in Q2. The exchange’s stock price soared above $293 after this earnings report was revealed. 

Other notable companies that have acquired a stake in Coinbase, include Cathie Wood’s ARK Invest which has been scooping up the exchange’s shares ever since it went public. ARK Investment Management now owns over 5.6 million Coinbase shares, while the ARK Innovation ETF owns over 4.2 million shares in the exchange, per CNN.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Global Cryptocurrency (GCC) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Цена в час новости $ 0.0034358 (-100%)

coinbase intel cryptocurrency largest market bet future

coinbase intel → Результатов: 11


British Tax Division Resorts to Gathering Intel From Crypto Exchanges To Find Tax Evaders

The tax authority of the United Kingdom, HM Revenue & Customs, has recently revealed that it is about to take data from exchanges in order to get unpaid taxes. Three major exchanges, CEX.IO, Coinbase, and eToro, received letters last week that demanded them to give information about their customers to the government. According to reports, […]

2019-8-7 22:49


Coinbase вошла в число лучших работодателей США по данным LinkedIn

Coinbase, несмотря на далеко не лучшие времена, переживаемые криптоиндустрией, смогла стать одним из 50 лучших работодателей США, опередив инвестиционного банковского гиганта JP Morgan. В опубликованных главным редактором LinkedIn, Даниэлем Ротом, официальных результатах, Coinbase находится на 35-й позиции в рейтигне, опередив такие популярные компании, как Twitter, Intel, GE, JP Morgan, Nike и другие.

2019-4-6 21:29


Фото:

Privacy-Focused Startup StarkWare Nets $30 Million in Series A Funding Round

Privacy-focused cryptocurrency startup StarkWare has announced the successful closure of its Series A funding round made up of a who’s who of blockchain industry organizations such as Intel Capital, Sequoia, Atomico, DCVC, Wing, Consensys, Coinbase Ventures, Multicoin Capital, Collaborative Fund, Scalar Capital and Semantic Ventures.

2018-10-30 17:00