ARK Sells $17M Coinbase Stake, Buys $18M Bullish as Crypto Slides

Published at 2026-02-06 11:45:23

ARK Investment reduced its position in Coinbase by about $17 million and increased exposure to Bullish by roughly $18 million on Friday, a reshuffle that came as crypto markets turned sharply lower. Coinbase (COIN) plunged 13.34% to close at $146.12, tracking bitcoin's fall to around $60,000 — the weakest level since November 2024 — and amplifying declines across exchange-focused equities.

The trade reads as a tactical reallocation amid heightened volatility: it could be interpreted as a vote of confidence in Bullish or simply risk management as prices tumble. For investors, the simultaneous drop in COIN and bitcoin raises the odds of continued short-term swings in crypto-linked stocks; the longer-term impact will hinge on whether digital-asset prices stabilize and on ongoing regulatory developments.

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Hyperliquid’s HYPE reached a record high against Coinbase shares as the HYPE/COIN ratio climbed to 0.2514, according to TradingView. The move was accompanied by $8.28 billion in trading volume, highlighting intense market interest in the pair.

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Published at 2026-04-10 16:45:54

Exodus Launches 'Exodus Pay' to Turn Bitcoin Wallet into Spending App

Exodus has launched 'Exodus Pay,' enabling users to spend BTC directly from their self-custodial wallet. The update aims to make holding and spending Bitcoin more seamless without moving funds to custodial services.

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Published at 2026-04-10 16:45:35

Russia to Ban Cash-for-Crypto Trades, Require Bank-Mediated Transactions

Russia will prohibit cash-for-crypto transactions and require trades to go through cashless, bank-mediated channels, a senior central bank official said. The measure is meant to increase oversight of crypto-related flows and clamp down on informal peer-to-peer markets.

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Published at 2026-04-10 11:30:09

Cango Sells 2,000 BTC Amid Miner Pivot to AI, Global Hashrate Drops 17%

Cango offloaded 2,000 BTC in a strategic deleveraging as the global Bitcoin hashrate fell about 17%, raising questions over whether this signals a buying opportunity or a warning. The move coincides with miners reallocating capital toward AI hardware, adding near-term sell pressure to BTC markets.

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Published at 2026-04-10 05:45:15

Morgan Stanley’s Cut-Rate Bitcoin ETF Sparks Industry Fee War

Morgan Stanley launched the MSBT Bitcoin ETF with a 0.14% fee, undercutting BlackRock’s IBIT and intensifying an issuer fee war. The move could shift investor flows and compress margins across the digital-asset ETF market.