Computer chip manufacturer Intel Corp. The US has shown interest in the leading cryptocurrency exchange Coinbase. The tech giant bought shares worth about $ 800,000 after its digital asset trading platform went public earlier this year.
Intel buys Coinbase crypto exchanges
Intel announced on Friday in a quarterly report with the U.S. Securities and Exchange Commission (SEC) that it owns Coinbase’s shares. A technology company from Santa Clara, Calif., bought the bet after listing the cryptocurrency exchange this spring.
According to the submitted form 13F, Intel is the platform operator Coinbase Global Inc. he owned 3,014 shares of. As of June 30, it is currently worth more than $ 760,000. On that date, Coinbase shares closed at $ 253.30 a Share, Market Watch reported.
The price at the end of June was 22.8% below the closing price of $ 328.28 recorded on the first day of trading in foreign exchange stocks on April 14. The stock has since partially recovered its lost value and recently topped $ 280.
Source: Yahoo Finance
On the final day before the weekend, Coinbase shares were up 1.85% at the closing price of $ 261.25, Fox Business noted in its lawsuit filing report. Intel’s shares were little changed on Friday, at about $ 53.50.
Earlier this week, Coinbase announced that the crypto trading company would be the 2nd of 2021. it released profit and growth data showing net sales of more than $ 2 billion in the quarter. The exchange also reported that it has about 68 million verified users, and the number of users of retail monthly transactions rose 44% from the first quarter of this year to 8.8 million.
Buying Coin shares is not Intel’s first step into crypto. In April, the company joined forces with software giant Microsoft to implement a threat detection tool designed to combat encryption. In 2018, Intel received a patent for a processing system that can use bitcoins energy efficiently.
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