Ark Invest, the U.S. investment management firm led by Cathie Wood, has acquired more Coinbase shares, adding 129,604 shares worth over $6.4 million to its Ark Innovation ETF. The firm also added 23,456 shares to its Ark Next Generation Internet ETF and 15,809 shares to its Fintech Innovation ETF -- worth over $1.1 million and $790,000, respectively.

South Korea is reportedly moving closer to launching a central bank digital currency (CBDC), with a new draft law set to create legal terminology for CBDCs.

Ark Invest, run by CEO Cathie Wood, purchased more shares in Coinbase Global Inc. on the same day the US-based crypto exchange announced it was suing the Securities and Exchange Commission. The ARK Innovation ETF purchased 122,083 shares, the ARK Next Generation Internet ETF added 20,327 shares, and the ARK Fintech Innovation ETF bought 14,633 shares, totaling nearly $8.6 million at current prices. Coinbase's lawsuit against the SEC follows a petition for a rulemaking that the company filed with the US securities regulator last summer, seeking a yes or no on its request for the commission to draft and approve a digital asset-specific rule. Coinbase can file another lawsuit to make a federal court force the SEC to make a new rule if the regulator declines.

Catherine Wood, Founder, CIO, and CEO at ARK Investment Management, LLC (aka “ARK” or “ARK Invest”), predicts a seismic shift in the financial landscape as Bitcoin and Ethereum emerge as the new safe havens. 

Recent turmoil in the banking sector has shown that Bitcoin (BTC) and Ether (ETH) can withstand a shaky economy, outperform other asset classes and function like gold, says ARK Invest chief executive Cathie Wood — though one long-time investor still isn’t sold.

Bitcoin has surged in the past week and is now approaching the $31,000 mark. Several analysts have predicted that Bitcoin will continue to rise in the coming years, with some even suggesting that it could reach $1 million in the next 10 years.

Cathie Wood's Ark Invest continued to purchase shares in crypto exchange Coinbase and payments firm Block on Monday. The firm purchased 32,378 shares in Coinbase for the Ark Innovation ETF, as well as 5,347 shares for its Next Generation Internet ETF, following its acquisition of more than 182,000 shares on Friday. Meanwhile, Ark's Fintech Innovation fund purchased 18,555 shares in Block, following a purchase of more than 288,000 shares across three of its funds on Friday. This indicates Wood's conviction in the two companies, which have faced negative headlines recently. Coinbase received a Wells notice from the SEC, while Block faces accusations from short seller Hindenburg Research.

Cathy Wood's ARK Invest bought $12.6 million of Coinbase (COIN) shares on Friday, the second straight day the fund bought the crypto exchange's stock after the company received a Wells Notice from the U.S. Securities and Exchange Commission (SEC) on March 22, sending COIN tumbling 16% the next day. The shares gained 1.5% on Friday to close at $67.83 apiece.

ARK Invest Buys $18M Worth of Coinbase Shares As The Price Tumbles; Coinbase-Backed Decentralized Social Blockchain (DeSo) Revolutionizes with New Proof of Stake System

In a recent development, Cathie Woods Ark Invest purchased 268,928 Coinbase (COIN) shares following the Wells notice from SEC.