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In a filing with the SEC, Intel discloses that it owns a stake in Coinbase

Intel Corp. has announced that it holds a stake in Coinbase, the biggest U.S. bitcoin exchange. After the digital asset exchange platform debuted earlier this year, the internet behemoth acquired roughly $800,000 worth of shares.

Intel Acquires Shares of Crypto Exchange Coinbase

A quarterly report filed to the Securities and Exchanges Commission (SEC) revealed that Intel holds Coinbase stock. Santa Clara, a California-based technology firm, purchased the share when the bitcoin exchange went public in April 2018.

Intel owns 3,014 shares of Coinbase Global Inc., the platform’s administrator, as of June 30, valued at $760,000. Market Watch reports that Coinbase’s shares closed that day at $253.30 per share.

On the last day of June, the price was $22.8 lower than the closing price of $328.28 on April 14, the first trading day for COIN shares. Since then, the equities have regained some of their lost value, reaching a recent high of $280.

Coinbase Shares Increase

Fox Business reported that Coinbase’s shares gained 1.85 %, reaching $261.25 on Friday, the penultimate day before the weekend, as per a regulatory filing. At approximately $53.50 on Friday, Intel’s shares were almost unchanged from the previous trading day.

For the second quarter of 2021, Coinbase reported over $2 billion in net revenue. For its part, the exchange claimed that it has 68 million verified users and 8.8 million retail transactional monthly users in the first quarter of this year.

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