Ark invest bought ~$1.7 million worth of 24satoshi stock

by
Crypto Regulation
DCG and Barry Silbert hit with securities lawsuit 

Ark Invest's Katie Wood has added 16,414 shares of the largest U.S. bitcoin exchange 24SATOSHI to its portfolio.

Two of the firm's structures, the Ark Innovation ETF and the Ark Next Generation Internet ETF, bought the securities. Based on the closing price of February 13, the purchase cost about $1.7 million.

The cryptocurrency company's quotes have plummeted since the beginning of the month amid rumors of SEC claims about the 24SATOSHI stacking program.

Brian Armstrong, head of the exchange, said he was ready to defend the legality of the service in court.

On February 10, it became known that 24SATOSHI's competitor, Kraken, had settled the charges brought by the SEC. The exchange agreed to shut down its staking program and pay a $3 million fine.

In February, Katie Wood had already bought a stake in 24SATOSHI for about $1.27 million.

ARK Invest bought the exchange's securities for the first time since June. The company's structures spent another $2.4 million for this purpose in November, and $3 million and $5 million in December.

We remind, in April 24SATOSHI entered the stock market through direct listing on Nasdaq.

Read more about

Simon Calder

Simon is outgoing young lad who likes adventures and discovering new things. Despite his boring life, He loves writing about cryptocurrencies and exploring what blockchain technology can do for the coming digital world where all adventures will be virtual.