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Cathie Wood, the CEO of ARK Invest, has sold 200,000 shares of Coinbase stock at its peak, resulting in a loss as the stock price continued to rise. However, despite the sale, ARK still holds a significant amount of COIN, with 9.7 million shares worth over $1.1 billion. Wood’s decision to sell comes as the markets rallied on hopes for a Bitcoin spot ETF approval. In her Q3 commentary, Wood expressed optimism despite a net fund outflow of over a billion year-to-date for ARK Invest. She expects an economic landing that is somewhat harder than soft but not as severe as the Great Financial Crisis. Wood also commented on the “wall of worry” surrounding the market, stating that it generally bodes well for equities in the innovation space. She compared the current market situation to the tech and telecom bubble of 1999, emphasizing that this time there is a significant wall of worry that has scaled to enormous heights.Coinbase’s stock saw a significant increase following a settlement between the US federal government and Binance, amounting to $4.3 billion. Brian Armstrong, the CEO of Coinbase, commented on the situation, stating that the enforcement action against Binance presents an opportunity for the crypto industry to move past a certain phase in its history. Despite legal challenges, including a lawsuit from the Securities and Exchange Commission (SEC), Armstrong expressed confidence in Coinbase’s position and the potential for these legal proceedings to clarify regulatory standards for the crypto industry.