BlockchainCom Co-Founder Nicolas Cary called out Cathie Wood’s positions having been trimmed off 50% after Wood implied the crypto exchange’s valuation was unjustifiable.
Last month, the company raised another round of investment led by Lightspeed Venture Partners and Baillie Gifford, putting its valuation at $14 Billion, more than doubling from its prior fundraising round.
“Her Position is Down 50%”
It has been a tough year for Cathie Wood, CEO of ARK Invest, whose major fund, Innovation ETF (ARKK), has been down nearly 40% YTD. Her recent remark on the beaten-down stocks like Coinbase getting unfairly hammered by the markets has caught the attention of Nicolas Cary, the co-founder of BlockchainCom.
Wood took a swipe at BlockchainCom, a direct rival of Coinbase, of which Ark Invest has held a big chunk of shares. The famed fund manager expressed her slight annoyance that BlockchainCom has been up threefolds in a year while shares of Coinbase are down nearly 50% in the same t
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