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Chip Giant Intel Owns Coinbase Shares: Report
The Santa Clara, Calif.-based company appears to have purchased the shares in its Q2 ending June 26.
Chipmaker Intel disclosed on Friday it owns a 3,014-share stake in the cryptocurrency exchange Coinbase, according to an article in the business publication Barron's.
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- The Santa Clara, Calif.-based company appears to have purchased the shares during its Q2 ending June 26, according to the story, which noted that Intel didn't report owning shares prior to then.
- Coinbase started trading publicly via a direct listing in April. Intel could have purchased the shares before then, as Barron's noted that companies going public must only report stakes in themselves of at least 5%.
- Based on Coinbase's share price at the time of publication, the Intel stake would amount to a little under $800,000.
- Intel had to report the shares because it owns over $100 million in publicly traded investments, Barron's reported.
- Coinbase reported strong second-quarter results on Tuesday, although it warned that customer activity would slow in the third quarter.
James Rubin
James Rubin was CoinDesk's Co-Managing Editor, Markets team based on the West Coast. He has written and edited for the Milken Institute, TheStreet.com and the Economist Intelligence Unit, among other organizations. He is also the co-author of the Urban Cyclist's Survival Guide. He owns a small amount of bitcoin.
