Coinbase Profits, ARK Invest Buys AMD, Pinterest

Cathie Wood's Ark Invest made significant trades, purchasing 328,527 shares of AMD valued at $47.46 million and 398,257 shares of Pinterest worth approximately $12.72 million following positive earnings reports from both companies. Meanwhile, Coinbase Global reported a strong Q2 with revenue doubling year-over-year to $1.45 billion and a net income of $36 million, despite a decline in trading volumes and a $319 million impairment on its crypto assets. The positive revenue was driven by increased subscription and services revenue, with the company expecting this trend to continue into Q3. Despite these gains, Cathie Wood's firm sold over 12,000 shares of Coinbase worth $2.7 million, likely as part of a strategic portfolio rebalancing. Coinbase’s stock rose in after-hours trading, reflecting investor confidence in its diversified revenue streams.