Bitcoin News and Finance Intel Discloses Holding Coinbase Stake in Filing With SEC Skip to main content

Intel Discloses Holding Coinbase Stake in Filing With SEC

Intel Discloses Holding Coinbase Stake in Filing With SEC

Computer chip manufacturer Intel Corp. has revealed it holds a stake in the leading U.S. cryptocurrency exchange, Coinbase. The tech giant purchased the shares worth almost $800,000 after the digital asset trading platform went public earlier this year.

Intel Acquires Shares of Crypto Exchange Coinbase

Intel has disclosed it owns Coinbase stock in a quarterly report submitted to the U.S. Securities and Exchanges Commission (SEC) on Friday. The Santa Clara, California-based technology company bought the stake following the listing of the cryptocurrency exchange this spring.

According to the filed Form 13F, Intel had 3,014 shares of the platform’s operator, Coinbase Global Inc., as of June 30, valued at over $760,000 at the time. On that date, Coinbase’s stock closed at $253.30 per share, Market Watch details.

The price at the end of June was 22.8% lower than the $328.28 closing rate registered on the first day of trading of the COIN shares, April 14. The stocks have since recovered some of the lost value, recently exceeding $280.

Intel Discloses Holding Coinbase Stake in Filing With SEC
Source: Yahoo Finance

On the last day before the weekend, Coinbase’s shares rose by 1.85% with a closing price of $261.25, Fox Business noted in its report on the regulatory filing. The shares of Intel remained almost unchanged on Friday, at around $53.50.

Earlier this week, Coinbase published earnings and growth data which showed the crypto trading company made over $2 billion in net revenue during Q2, 2021. The exchange also revealed it had around 68 million verified users while its retail monthly transacting users rose to 8.8 million, a 44% increase over this year’s first quarter.

The COIN shares acquisition isn’t Intel’s first foray into the crypto space. In April, the corporation joined forces with software giant Microsoft to deploy a threat detection tool designed to combat cryptojacking. And in 2018, Intel was granted a patent for a processing system capable of mining bitcoin in an energy efficient way.

What do you think about Intel’s investment in Coinbase shares? Tell us in the comments section below.

Comments

Popular posts from this blog

Custodial Lightning Network Service Attack Discovered by LN ‘Newbie’ — Hacker Strikes 6 LN Custodians

On September 18, a Redditor posted to the r/bitcoin forum and explained how he discovered a way to “attack [the] lightning Network’s custodial services.” The Reddit account dubbed “Reckless Satoshi” wanted to figure out if a “discrepancy between real routing fees and service’s transaction fee can be exploited for a profit.” The researcher disclosed that he wanted to see how large the damage could be and said “it is bad.” 6 Lightning Network Custodial Services Attacked, Researcher Discloses Findings to Offenders Prior to Public Disclosure A Redditor called Reckless Satoshi published a disclosure post on r/bitcoin this past Saturday and disclosed how he had found a vulnerability with routing fees and some of the Lightning Network’s custodial services. The research attack was done in good faith and after it was complete he disclosed the bugs to the offending services before publishing his findings. Reckless Satoshi used the Lightning Network (LN) attack on six different services incl...

Axie Infinity Down 40% Since Last Week’s Price High, Protocol Revenue Outshines Competitors

Last week, the game token leveraged within the Axie Infinity gaming universe skyrocketed to all-time highs, while other crypto markets remained extremely lackluster. During the last seven days, Axie Infinity’s platform token has dropped significantly in value shedding more than 12%. Meanwhile, the game platform’s smooth love potion token has slid over 8% over the last 24 hours. Axie Infinity Down More Than 40% Since All-Time High Not too long ago, the axie infinity (AXS) token was a topical conversation because it reached an all-time high on July 15. At the time, AXS managed to capture $28.93 per unit and since then it has shed 12.8% during the last seven days. The axie infinity (AXS) token is used within the blockchain-based game that involves battles between token-based creatures called “Axies.” AXS is used for the game’s governance system as well as other actions within the game. At the time of writing axie infinity (AXS) is exchanging hands for $16.70 per coin. AXS/USD on Ju...

Play-to-Earn Game From Polker (PKR) Exchange Listing – Endorsed by Akon

The Play-to-Earn NFT based Polker.Game ‘s native token $PKR has been officially listed on the popular centralized exchange BitMart. Polker.game has been in the spotlight recently as Akon, the American R&B superstar and record producer gave his official endorsement of polker stating that the “game is revolutionary” and that Polker is “hands down.. the best play to earn, NFT game in the space.”. With the BitMart listing and celebrity endorsement from Akon, Polker is perfectly positioned to become a major player in the Play-to-Earn league. Watch Akon’s Video Here What is Play-to-Earn? Although not a new concept, play-to-earn has become a trending term due to the popularity of the NFT game AXIE infinity. In the past, previous play-to-earn games have also achieved success – however, thanks to the huge amount of development in the blockchain space in recent years the gaming experience is now massively improved. Play-to-Earn games are essentially free to play and open to anyone and...

China to Crack Down on Copyright Infringement Through NFTs

Authorities in China are going after creators of digital collectibles based on other people’s works of art, the use of which was not authorized. The government offensive is part of a campaign to combat online copyright infringement and piracy with the participation of several departments. Regulators in China Move to Strengthen Copyright Supervision of Online Platforms The National Copyright Administration of China (NCAC) has recently launched a campaign against copyright infringement and piracy on the internet, together with the Ministry of Industry and Information Technology, the Ministry of Public Security, and the State Internet Information Office of the People’s Republic. A major objective of the initiative is to improve copyright supervision of online businesses by investigating cases involving the sale and distribution of infringing products on short video, live broadcast and e-commerce platforms, and promptly dealing with infringing content, the agency announced in a press r...
Blogarama - Blog Directory