Intel reveals stake in cryptocurrency platform CoinBase

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Intel Corp. revealed in regulatory filings Friday that it holds a small stake in burgeoning cryptocurrency platform CoinBase.

The tech giant and chipmaker said in a 13F filing that it owns 3,014 shares of CoinBase’s Class A stock as of June 30. CoinBase went public through a direct listing in April.

Intel's stake in the cryptocurrency exchange is worth roughly $790,000 based on CoinBase’s current share price. Coinbase’s stock has fallen roughly 20% since its public trading debut.

CoinBase shares rose roughly 2% in trading Friday. Intel shares were flat.

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Intel and CoinBase representatives did not immediately respond to a request for comment.

TickerSecurityLastChangeChange %
INTCINTEL CORP.53.49-0.05-0.09%
COINCOINBASE GLOBAL, INC.261.25+4.75+1.85%

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CoinBase is one of several prominent cryptocurrency trading exchanges that have experienced a surge in popularity as digital currencies gain traction among investors. The platform’s offerings include Bitcoin, Ethereum, Binance Coin and Dogecoin.

CoinBase has a market capitalization of roughly $54 billion. Earlier this week, the company reported second-quarter earnings and revenue that topped Wall Street’s expectations.

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