Coinbase shares up +50% since being sued by the SEC

Although Coinbase, the popular US cryptocurrency exchange, is currently facing a lawsuit in the United States for allegedly violating securities regulations, the company’s shares have recently shown an upward trend.

Value increased to almost $79

Since the U.S. Securities and Exchange Commission (SEC) filed a lawsuit against Coinbase (COIN) over alleged unregistered securities, the stock’s value has risen more than 50%.

According to data from TradingView, the value of Coinbase shares has risen from around $52 on June 6 to $78.7 on July 7, representing an increase of around 51%. In fact, in the last 6 months, the stock is up about 133% while its annual growth rate is about 50%.

Stocks may continue up

Although Coinbase executives regularly sell their COIN shares, some major COIN holders have chosen to hold their positions.

According to portfolio updates from ARK Invest, Cathie Wood’s investment firm, the company has not completed a single COIN transaction since purchasing an additional 400,000 shares of Coinbase in June. This reflects Wood’s view that Coinbase stock has even more potential as she expects COIN stock to rise in line with Bitcoin.

On June 19, ARK Invest’s CEO reiterated her confidence in Bitcoin’s future value by stating that she believes the price of one Bitcoin will reach $1 million one day.

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