Intel discloses small stake in crypto exchange Coinbase

Aug 13 (Reuters) – Intel Corp (INTC.O) on Friday disclosed a stake worth less than a million dollars in U.S. cryptocurrency exchange Coinbase Global Inc (COIN.O).

The chipmaker held about 3,014 shares of Coinbase’s Class A common stock as of June 30, Intel said in a regulatory filing. The Coinbase shares would be worth around $788,191, based on trading price of $261.51 at 15:01 pm ET on Friday.

Intel did not immediately respond to Reuters request for comment.

Major players have doubled down on crypto holdings including star stock picker Cathie Wood and Tesla Inc (TSLA.O) Chief Elon Musk.

One of the largest cryptocurrency exchanges in the world, Coinbase went public through a direct listing in April, which saw its valuation rise to as high as $112 billion on the first day of trading. read more

Reporting by Sohini Podder in Bengaluru; Editing by Shailesh Kuber

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