Intel dives into crypto through Coinbase (COIN) shares

Mon 16 Aug 2021 ▪ 17h37 ▪ 2 min read — by Adrien Stefanini

American tech company Intel (INTC) announces it owns shares in the leading US cryptocurrency exchange Coinbase. The technology giant bought securities worth $800,000 (~£577,000). Intel’s largest investments as of 30th June were 5.7 million shares of McAfee (MCFE) and 139,780 shares of MaxLinear (MXL).

Intel’s first significant foray into crypto

Intel is a member of a cross-industry consortium led by R3 that is, among other things, helping accelerate the development of Corda, an open source blockchain platform. It is also a founding member of the Enterprise Ethereum Alliance, a nonprofit alliance of financial technology companies and foundations.

As Barron’s, an American weekly magazine, reports, Intel bought 3,014 shares of Coinbase on 26th June. The purchase was revealed as part of a filing with the US Securities and Exchange Commission (SEC). Surprisingly, Intel was keeping quiet about this event for a rather long time.

The Coinbase shares purchase is Intel’s first major investment in the world of crypto. Back in 2016, the firm filed a patent application for proof-of-work crypto mining hardware (a design for an SoC, or system-on-a-chip). The US Patent and Trademark Office (USPTO) assigned the patent in late 2018.

On 13th August, Coinbase shares were up 1.85% with the closing price of $261.25, Fox Business noted. Intel shares changed little on Friday, remaining at $53.50.

Coinbase had previously reported more than $2 billion (~£1.46 billion) in revenue in its revenue growth and earnings statistics report. The exchange also claims to have around 56 million verified users.

Subscribe to our daily and weekly newsletter service to receive a digest of the latest news in the cryptosphere and never miss out on any of the Cointribune's highlights!

Adrien Stefanini avatar
Adrien Stefanini

Ingénieur de formation, et spécialisé dans les nouvelles technologies, je me suis toujours intéressé à la blockchain et aux cryptomonnaies. Je suis heureux de faire partie de l'équipe CoinTribune.


The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.

Prices & Indices

BITCOIN (BTCUSD) $24,003.00 0.18%
ETHEREUM (ETHUSD) Ξ $1,900.10 0.91%
DEFI (DEFIPERP) $3,781.10 1.29%
MARKETS (ACWI) $91.39 0.09%
GOLD (XAUUSD) $1,791.29 0.09%
TECH (NDX) $13,291.99 -0.65%
CURRENCIES (EURGBP) £0.845960 0.05%
CRUDEOIL (USOIL) $93.95 -0.03%
IMM. US (REIT) $2,621.36 -0.29%
The percentage expresses the change over the past 24 hours BUY CRYPTOS WITHOUT RISK
Crytocurrency Guides
You must complete the form to receive your document.
Our Partners
Crypto.com Logo Crypto.com The cryptos banking app- Visit
OVR The Metaverse Platform- Visit
Bybit The cryptos trading platform- Visit
Sorare Logo Sorare The Worldwide fantasy football- Visit
Huobi logo Huobi Digital Asset Exchange- Visit
Etoro Logo eToro The social trading platform Disclaimer : 67% of retail CFD accounts lose money Disclaimer: 78% of retail CFD accounts lose money - Visit
SandBox Logo TheSandbox Community-driven blockchain game - Visit
Koffy logo Koffy Web3 news aggregator powered by AI!- Visit