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Benzinga
Benzinga
Business
Samyuktha Sriram

Cathie Wood Defends Coinbase Allocation: Crypto Revolution 'Will Not Be Stopped'

Cathie Wood Coinbase Crypto ARK Ark Invest Ark Investment Management Coinbase Global Inc Nasdaq Cryptocurrency

Ark Investment Management founder and CEO Cathie Wood explained why her company's flagship fund has maintained a strong allocation in cryptocurrency exchange Coinbase Global Inc (NASDAQ:COIN), in an interview with CNBC’s Squawk Box.

What Happened:, Wood acknowledged that cryptocurrency is in a “massive slump right now,” but said Coinbase is in the fund’s top ten holdings because Ark believes that the "crypto revolution" is still underway.

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