Cathie Wood buys the dip in Coinbase again, but sells shares of Silvergate after the crypto-focused bank sees a run on deposits and cuts 40% of its staff

Jan 6 2023 by Business Insider

 

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Cathie Wood's Ark Invest continues to buy the dip for digital asset exchange Coinbase. But the famed money manager sold Silvergate shares as the crypto-focused bank's stock plunged 43% on Thursday. Ark Invest's exchange-traded funds ARKF and ARKW are down more than 60% year-to-date.

Cathie Wood's Ark Invest snatched up more shares of embattled cryptocurrency exchange Coinbase, which has plunged 86% in the past year amid a prolonged crypto bear market.

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Continue Reading Cathie Wood buys the dip in Coinbase again, but sells shares of Silvergate after the crypto-focused bank sees a run on deposits and cuts 40% of its staff