Chip Giant Intel Owns Coinbase Shares: Report
The Santa Clara, Calif.-based company appears to have purchased the shares in its Q2 ending June 26.
Aug 13, 2021 at 7:03 p.m. UTCUpdated May 9, 2023 at 3:22 a.m. UTC
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Chipmaker Intel disclosed on Friday it owns a 3,014-share stake in the cryptocurrency exchange Coinbase, according to an article in the business publication Barron's.
- The Santa Clara, Calif.-based company appears to have purchased the shares during its Q2 ending June 26, according to the story, which noted that Intel didn't report owning shares prior to then.
- Coinbase started trading publicly via a direct listing in April. Intel could have purchased the shares before then, as Barron's noted that companies going public must only report stakes in themselves of at least 5%.
- Based on Coinbase's share price at the time of publication, the Intel stake would amount to a little under $800,000.
- Intel had to report the shares because it owns over $100 million in publicly traded investments, Barron's reported.
- Coinbase reported strong second-quarter results on Tuesday, although it warned that customer activity would slow in the third quarter.
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