Cathie Wood buys the dip in Coinbase shares amid SEC crackdown

Data from the website Cathie’s Ark, which tracks the investment activities of the Ark group, showed that three funds under Cathie Wood bought a total of over 400,000 shares in Coinbase on Tuesday. Coinbase shares settled 12% lower on Tuesday, their second session of steep losses this week following a 9% tumble on Monday, after the SEC also sued world no. 1 crypto exchange Binance over similar charges. But Coinbase shares rose 2% in aftermarket trading, boosted by news of the Ark buy. Bitcoin prices showed little reaction to the SEC move against Coinbase, rising 4% on Wednesday.