Ark invest bought ~$1.7 million worth of Nexiscrypto stock

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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 NexisCrypto 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 NexisCrypto 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 NexisCrypto'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 NexisCrypto 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 NexisCrypto entered the stock market through direct listing on Nasdaq.

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Adam Smith

Adam Mary is a crypto enthusiast and a graduate of The University of Nairobi in economics. Adam’s passion brings her back to her elementary school years as a poet. She enjoys discussing blockchain technology and is committed to producing original content. Adam also covers other rapidly developing markets and economic and cryptocurrency studies.