Home arrow Article arrow Article Detail

Largest chip manufacturer Intel reveals stake in Crypto Exchange Coinbase

Profile Image

Rushali Das Follow


Aug, 17 2021

Aug, 17 2021

likes 0 | comments 0

Article Image

Intel, the American multinational corporation and the largest chip manufacturer, disclosed on Friday that it owned shares worth 3,014 Coinbase, the cryptocurrency exchange platform, as of the end of June.

In a quarterly regulatory report that is issued to the U.S. Securities and Exchange Commission (SEC), Intel declared this holding.

“Intel was obligated to disclose the stake to the Securities and Exchange Commission because it owns more than $100 million in publicly traded investments,” Barron, an American weekly magazine/newspaper and the leading source of financial news noted.

The end of quarter 2 showed Intel holdings a small stack of COIN shares. It still remains unknown when the purchase had occurred.

Coinbase shares began to trade publicly in April 2021 through a direct listing on the Nasdaq, an American stock exchange based in New York City. Coinbase since then has seen its shares trading in the range of $210 and $430 per share approximately.

On Friday, Coinbase closed trading at $261.25 per share. At that price, Intel’s end of Q2 holdings is valued at $787,407.50.

“It is possible that Intel invested in Coinbase before the shares were trading publicly. Regulatory filings only require companies that are going public to disclose investors with stakes of 5% or more.” Barron said.

Intel has had its foot in various blockchain endeavors in the past. It has also offered a Hyperledger Fabric-based blockchain solution before. Intel had launched a commercial blockchain package that was based on the Hyperledger ecosystem in February 2019. Intel had announced that this new product was designed for businesses that wanted to launch their own blockchain effectively and quickly.

The cryptocurrency market has attracted a notable amount of attention over the course of 2020 and 2021, resulting in the growing awareness of the crypto industry. 

likes 0 Likes | comments 0 Comments

Profile Image

Rushali Das

CBW - External Analyst


Disclaimer: The information is for informational purposes only.​ This advertisement does not constitute financial advice or any other advice. You should consult with a financial professional to determine what may be best for your individual needs. None of the information and/or content available through this advertisement is intended as an offer or solicitation of an offer to buy or sell, or as a recommendation, endorsement, or sponsorship of any company, financial product, security or commodity. To the maximum extent permitted by law, we disclaim any and all liability in the event any information, commentary, analysis, opinions, advice and/or recommendations prove to be inaccurate, incomplete or unreliable or result in any investment or other losses. In Making the investment decision, investors must rely on their own examination of the issuer and the terms of the offerings, including the merits and risks involved. Investments are speculative, illiquid, and involve a high degree of risk , including the possible loss of investment.