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.
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.
source link : https://news.bitcoin.com/intel-discloses-holding-coinbase-stake-in-filing-with-sec/
