Intel Corporation reveals a $780K investment in Coinbase

Intel Corp, the world's largest chipmaker, has announced a minor stake in bitcoin exchange Coinbase. The company, which is the world's largest semiconductor chip producer by revenue, reported that it owns about 3,014 shares of Coinbase's Class A common stock. Intel disclosed its position in a quarterly regulatory report to the Securities and Exchange Commission in the United States (SEC).

These shares, according to reports, are worth more than $780,000. Intel Corporation first invested in Coinbase in the second quarter of 2021, around the time the exchange went public through a direct listing in April. Coinbase's valuation soared to $112 billion on its first day of trading. It was referred to as the most valuable U.S. trade at the time, according to reports.

The most recent additions to Coinbase have resulted in significant milestones.

Coinbase has continued to extend its customer trading choices, most recently adding five new assets to its platform on August 12. Request (REQ), TrueFi (TRU), Quickswap (QUICK), Wrapped Luna (WLUNA), and Axie Infinity were among the assets, all of which were Ethereum tokens (AXS).

REQ and TRU, two of those tokens, both reached new milestones around the same time. TRU, in particular, set a new all-time high of $1.04 on the same day, while REQ touched a yearly high of $0.33. According to the analysis, their Coinbase listings may have aided in their success.

TRU's price had dropped to $0.61 at the time of publication, according to statistics. Meanwhile, REQ continued to rise over $0.33, reaching a high of $0.41 on August 13th, according to data. However, it has fallen in price since then, with a price of $0.25 at the time of writing.

The United States government has adopted Coinbase software. Coinbase isn't just making inroads with big-name tech companies like Intel. To that list, add federal law enforcement agency. According to recent reports, the US Immigration and Customs Enforcement (ICE) department purchased digital forensics software built by the exchange. ICE joins government organizations such as the Internal Revenue Service (IRS) in utilizing crypto-analysis tools created by and for the crypto industry.

According to reports, the forensics program will cost $29,000 and will have a one-year anticipated performance time.


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