**ARK Invest Snaps Up Coinbase Shares Amid Market Turbulence**

ARK Invest, led by Cathie Wood, has resumed buying Coinbase (COIN) stock during a major market sell-off. On August 5, ARK acquired 28,632 shares of Coinbase, spending $5.4 million. This move comes after a long hiatus from purchasing the stock in 2024.

The buy coincided with a sharp decline in cryptocurrency markets. Bitcoin (BTC) briefly dipped below $50,000 for the first time since February 2024, hitting a low of $49,800. Despite a recovery to around $55,000, BTC remains down 16% over the past week.

Coinbase shares mirrored Bitcoin's volatility, plunging 20.7% on August 5 before closing at $189.5. This story is developing, so stay tuned for updates.