Intel has disclosed a stake worth less than a million dollars in U.S. cryptocurrency exchange Coinbase Global.
The US-based chipmaker held about 3,014 shares of Coinbase’s Class A common stock as of June 30, Intel said in a regulatory filing. Share of Coinbase, one of the largest cryptocurrency exchanges in the world, would be worth around $788,191, based on trading price of $261.51 at 15:01 pm ET on Friday.
Major players have increased their crypto holdings including star stock picker Cathie Wood and Tesla founder Elon Musk.
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.
Coinbase reported a 12-fold increase in revenue from a year earlier to $2.23 billion.
Trading volume in the second quarter surged to $462 billion from $28 billion a year earlier. Assets on the platform reached $180 billion up from $26 billion. Net profit was $1.6 billion, up nearly 4,900 percent from a year earlier.