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Cathie Wood’s Ark Invest Sells $6.6M Worth of Coinbase Shares While Crypto Exchange Grapples With Massive Bitcoin Drain

On Wednesday, Cathie Wood-led Ark Invest made a significant move by selling over $6 million worth of Coinbase Global Inc (NASDAQ:COIN) shares, amidst a backdrop of nearly $1 billion in Bitcoin (CRYPTO: BTC) withdrawals that left Coinbase with its lowest reserve since 2015. The Coinbase Trade The firm sold 40,683 shares through ARK Innovation ETF (NYSE:ARKK) and Ark Fintech Innovation ETF (NYSE:ARKF) on Wednesday. The transaction was valued at $6.6 million. Coinbase shares closed 6.28% for the day at $162.41. In the after-hours trading, the shares rose 5.6% to $168. Concerning the significant w…