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Nevada Sues Coinbase Over Sports Contracts, Cathie Wood Sells $21 Mil Of DraftKings
Investors· 2026-02-04 21:39
Group 1 - Nevada has filed a lawsuit against Coinbase, alleging that some of its events contracts violate state law, leading to a decline in Coinbase's stock price [1] - Following the lawsuit, DraftKings and FanDuel-parent Flutter Entertainment saw their stock prices increase [1] - Cathie Wood's ARK Invest purchased Coinbase shares after the stock dip and sold approximately $21 million worth of DraftKings shares [1] Group 2 - Bitcoin has fallen to a 16-month low, with Stifel warning of a potential drop to $38,000 [1] - The cryptocurrency market is experiencing a downturn, referred to as a "crypto winter," which is impacting Coinbase's stock performance [1] - Analysts have noted that DraftKings is benefiting from positive comments and new data-center plays, leading to a target price hike [1]
X @Cointelegraph
Cointelegraph· 2026-02-04 15:01
🔥 BULLISH: ARK Invest bought $19M in crypto-related stocks during the dip, marking its second straight day of accumulation. https://t.co/TLfg01Wvc4 ...
X @CoinDesk
CoinDesk· 2026-02-04 13:25
New: Cathie Wood's @ARKInvest buys $19M in crypto stocks as $BTC drops to $73K, adding to positions in $CRCL, $BLSH, $COIN, $HOOD, $BMNR and $XYZ. https://t.co/S91iCahXXd ...
Why Is Cathie Wood Buying More BitMine As Ethereum Plummets? Ark Invest Doubles Down as Tom Lee Defends Strategy
Yahoo Finance· 2026-02-04 12:32
Key Takeaways Cathie Wood’s ARK Invest added more than $44 million in crypto-linked equities, including BitMine, Robinhood, and Circle. BitMine chairman Tom Lee defended the firm’s Ethereum treasury model despite billions of losses. Analysts say Ethereum’s price lacks momentum. Cathie Wood’s ARK Invest increased its exposure to crypto-linked equities this week, buying shares of BitMine and other digital-asset firms, despite Ethereum’s sharp price drop and mounting sector-wide losses. The purchase ...
ARK Invest goes on $19 million buying spree as crypto stocks nurse losses
Yahoo Finance· 2026-02-04 12:16
Ark Invest bargain hunted for a second straight day Tuesday, snapping up shares in cryptocurrency companies worth $19 million. The St. Petersburg, Florida-based investment manager bought $2.41 million worth of shares in Circle (CRCL) and added $3.46 million and $631,000 of Bullish (BLSH) and Coinbase (COIN) shares respectively, according to an emailed disclosure. Bullish is the parent company of CoinDesk. ARK also bought $7.81 million worth of crypto-friendly investment platform Robinhood (HOOD), $3.25 ...
X @BSCN
BSCN· 2026-02-04 09:55
🚨MASSIVE: CATHIE WOOD BLAMES BINANCE FOR 10/10 CRYPTO CRASH"Very few people know this..."In a recent interview with The Rundown, @ARKInvest's @CathieDWood said that the famous crypto crash on October 10 was caused by...... "a software glitch" on @binance."There was an auto-deleveraging event... to the tune of about $28 billion... We think that is just now washing through the system".The comments come at a time when both Binance and founder @cz_binance are facing heavy criticism on social media.BSCN (@BSCNew ...
Cathie Wood recommends four assets for portfolio diversification
Yahoo Finance· 2026-02-03 22:53
Group 1 - ARK Invest, led by CEO Cathie Wood, was the first public asset manager to gain Bitcoin exposure in 2015 when Bitcoin was valued at under $500, and it has since surged to nearly $78,000 despite recent market volatility [1][3] - ARK Invest has been actively acquiring shares in various crypto-related companies, including Coinbase and Block, indicating a strong commitment to the crypto sector [2][3] - Following a recent market crash, ARK Invest resumed its buying spree, purchasing approximately $72 million worth of popular crypto stocks on February 2 [3] Group 2 - The company has made significant investments in various crypto-related assets, including $32.7 million in Robinhood Markets, $14.6 million in CoreWeave, $9.4 million in Circle Internet Group, $6.3 million in Bitmine Immersion Technologies, $6 million in Bullish, $1.9 million in Block, and $1.3 million in Coinbase [4] - Cathie Wood has recommended four cryptocurrencies as potential diversifiers: Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and possibly Hyperliquid (HYPE), suggesting a strategic approach to navigating current market conditions [3]
Bitcoin’s Next Era: Digital Gold, Stablecoins, And Freedom Tech
ARK Invest· 2026-02-03 21:30
Since inception, ARK has researched and published thoughts on the cryptocurrency ecosystem within Big Ideas and through articles, whitepapers, monthly Bitcoin reports and podcasts. Now, in coordination with Bitcoin Park, ARK is pleased to introduce a monthly conversation with leaders in the Bitcoin space, to discuss everything happening in the rapidly-changing and still nascent Bitcoin ecosystem. Published through the For Your innovation podcast channels, this monthly series aims to be informative and enlig ...
X @CoinMarketCap
CoinMarketCap· 2026-02-03 16:48
LATEST: 💰 ARK Invest bought additional Robinhood, Circle and Bitmine shares as crypto stocks slumped on Monday, continuing its buy-the-dip accumulation strategy. https://t.co/qhCjEK3YcF ...
Cathie Wood Buys $24.8M in Crypto Stocks Despite Slump — What’s Ark Invest’s Real Plan?
Yahoo Finance· 2026-02-03 15:46
Core Viewpoint - Ark Invest has increased its investments in crypto-linked stocks despite a downturn in cryptocurrency prices and exchange stocks, indicating a bullish stance on the sector during a period of market weakness [1]. Group 1: Investment Activity - Ark Invest purchased approximately $24.8 million worth of positions in various crypto-exposed companies, including Robinhood, Circle, Block Inc., BitMine Immersion Technologies, Coinbase, and Bullish [2][3]. - The largest single purchase was 235,077 shares of Robinhood, valued at about $21.1 million, and 274,358 shares of BitMine worth roughly $6.2 million [3][4]. - Other notable purchases included $9.4 million in Circle, $6 million in Bullish, $1.9 million in Block Inc., and $1.25 million in Coinbase [4]. Group 2: Market Context - The crypto-related stocks opened the week negatively, with Robinhood and Circle down nearly 10% and 8%, respectively, while BitMine and Bullish fell more than 9% and 4% [4]. - Bitcoin has seen a significant decline, falling below $80,000 for the first time since April 2025 and down over 37% from its October peak [5]. - Trading activity across centralized crypto exchanges has sharply contracted, with spot trading volumes dropping from around $2 trillion in October to approximately $1 trillion by the end of January [5]. Group 3: Stock Performance - Exchange stocks have been heavily impacted, with Coinbase shares down more than 40% over the past six months, and Bullish down nearly 57% during the same period [6]. - Robinhood has shown relative resilience, declining about 16% but still trading below its recent highs [6]. Group 4: Historical Investment Trends - Ark Invest's recent purchases are consistent with its strategy of adding to crypto-related positions during market downturns, having previously acquired $42 million worth of such stocks in November 2025 following a 9.6% stock crash [7].