Ifbuying frenzy – You are aware that for the past few days the situation has been delicate for Binance US and for the boss of Binance, Changpeng Zhao. In the crosshairs of US Justice and the SEC, the crypto platform even announced today stop USD deposits on the lands of Uncle Sam. In this context, Cathie WoodCEO of Ark Invest, a famous investment fund, does not chew his pleasure and has been suffering from buying fever for a few days.
When Binance is in turmoil, Ark Invest buys Coinbase shares
The fever therefore began to reach Cathie Wood, a few days ago when Coinbase learned that it was also subject to an SEC complaint for the sale of unregistered securities.
These are then 21 million of dollars in actions CORNER which were purchased by the CEO of Ark Invest, justifying her investment with Bloomberg as follows:
“We have Binance under increasing regulatory scrutiny for criminal activity, fraud being one of them, so we have the disappearance of competition for Coinbase, so that is a good thing in the longer term (…)”
With this purchase, Coinbase is Ark Invest’s seventh holding with a total of 11,440 COIN shares spread across ETFs. A purchase that takes advantage of the unclear regulatory framework and the fall in the COIN share price.
>> Prefer to keep your cryptos safe? Choose a Ledger wallet (commercial link) <<
In the face of uncertainty, Bitcoin is resilient
Subsequently and in the same dynamic, we learned this morning that the entrepreneur also added an additional $19.9 million in Block Inc. stock to her ETFs.
In fact, the regulatory measures underway have therefore not influenced the investor, quite the contrary. She also confirms her choices with our colleagues from Bloomberg explaining:
“The more uncertainty and volatility there is in the global economy, the more our confidence in bitcoin increases (…) Why would Bitcoin do well under these circumstances? It will work well because it is an antidote to counterparty risk in the traditional financial system. »
Statement by Kathie Wood
Pragmatic therefore, Cathie Wood does not see the end of the world in the face of the regulatory disaster in the USA, quite the contrary. Aware of the innovation represented by Bitcoin and cryptocurrencies, the latter confirms the resilience of the cryptographic sector and intends to take advantage of the market volatility caused by the attitude of the SEC and lack of regulatory clarity.
In crypto, do not economize on caution! So, to keep your crypto assets safe, the best solution is still a personal hardware wallet. At Ledger, there is something for all profiles and all cryptos. Do not wait to put your capital in safety (commercial link)!