As the SEC continues to increase the pressure on the crypto industry, it has sued the world's two largest crypto exchanges, Binance and Coinbase.
While the news of successive lawsuits and declines from the SEC has made some crypto money investors nervous, it has also been an opportunity for some investors.
After the lawsuit against Coinbase, the shares of the stock market also fell.
Take this fall as an opportunity and one of the investors was Ark Invest, the company of the big Bitcoin investor Cathie Wood.
Cathie Wood, who has been collecting Coinbase shares for a long time, has made another purchase.
Ark Invest has purchased 419,324 Coinbase shares (COINs) worth approximately $21.6 million at yesterday's closing price of $51.61, Coindesk reported.
The acquired Coinbase shares were split between ARK' Invest's Innovation ETF (NYSE:ARKK), Next Generation Internet ETF (NYSE:ARKW) and Fintech Innovation ETF (NYSE:ARKF).
Ark Invest made its last Coinbase share purchase at the beginning of May. With the last purchase, Ark Invest has a total of 11.44 million COINs.
In addition to the Coinbase shares, Ark Invest also bought shares from Jack Dorsey's company, Block.
*Not investment advice