ARK on Friday bought 187,078 shares of Coinbase, which debuted on the Nasdaq earlier this week, in a purchase worth nearly $64 million at the day’s closing price of $342.
That price for Coinbase, which has opted against a traditional IPO but instead will use a direct listing, means the company is valued at $65.3 billion.
Bitcoin, the most popular crypto coin, jumped to a one-week high on the news, rising as much as 4.5% to $58,300 and heading back toward a record-high above $61,000 hit earlier this month.
The USD Coin (USDC) is a stablecoin cryptocurrency whose value is pegged directly to the US dollar.
The first meeting of the KP Crypto Advisory Committee held at KPITB. KP government on the directions and guidance of Chief Minister KP Mahmood Khan is taking serious steps regarding cryptocurrency and crypto mining.
Commodity-linked currencies including the Australian dollar , the New Zealand dollar and the Canadian dollar eased slightly against the US dollar, tracking weakness in commodity prices.
Bangash also thanked Waqar Zaka, one of the leading voices supporting cryptocurrency in Pakistan for his full cooperation and support to the KP government.
The deal will provide the merged entity with gross cash proceeds of $595 million, which includes $425 million from investors including Fidelity Management & Research Company and Morgan Stanley's Counterpoint Global.
Good Work, a special purpose acquisition company, or SPAC, raised $150 million through an initial public offering last year.
The world's biggest cryptocurrency slipped as much as 6% to $44,451 before recovering most of its losses.
The sell-off echoed that in equity markets, where European stocks tumbled as much as 1.5%, with concerns over lofty valuations also hammering demand. Asian stocks fell by the most in nine months.