Intel reveals stake in cryptocurrency platform CoinBase
Intel's stake in the cryptocurrency exchange is worth roughly $790,000 based on CoinBase’s current share price
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Intel Corp. revealed in regulatory filings Friday that it holds a small stake in burgeoning cryptocurrency platform CoinBase.
The tech giant and chipmaker said in a 13F filing that it owns 3,014 shares of CoinBase’s Class A stock as of June 30. CoinBase went public through a direct listing in April.
Intel's stake in the cryptocurrency exchange is worth roughly $790,000 based on CoinBase’s current share price. Coinbase’s stock has fallen roughly 20% since its public trading debut.
CoinBase shares rose roughly 2% in trading Friday. Intel shares were flat.
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Intel and CoinBase representatives did not immediately respond to a request for comment.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| INTC | INTEL CORP. | 24.44 | +0.43 | +1.79% |
| COIN | COINBASE GLOBAL INC. | 295.23 | -24.78 | -7.74% |
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CoinBase is one of several prominent cryptocurrency trading exchanges that have experienced a surge in popularity as digital currencies gain traction among investors. The platform’s offerings include Bitcoin, Ethereum, Binance Coin and Dogecoin.
CoinBase has a market capitalization of roughly $54 billion. Earlier this week, the company reported second-quarter earnings and revenue that topped Wall Street’s expectations.