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Cathie Wood buys more Coinbase amid crypto plunge

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Monitors display Coinbase signage during the company's initial public offering (IPO) at the Nasdaq MarketSite in New York, on Wednesday, April 14, 2021.
Michael Nagle | Bloomberg | Getty Images

Ark Invest's Cathie Wood is buying more shares of Coinbase amid the spiral in crypto prices.

The Ark Invest founder purchased $38 million worth of Coinbase in various funds on Wednesday, after the crypto currency exchange's stock dropped 6% amid bitcoin's rout. Wood's purchase is based on Coinbase's Wednesday closing price of $224.80 per share.

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