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Cathie Wood, the founder and CEO of ARK Investment Management, said she remains bullish over Coinbase in light of Ripple’s partial victory over the Securities and Exchange Commission<\/a> on July 13. <\/p>\n While Wood noted the ruling wasn’t in outright favor of Ripple<\/a>she praised the outcome as “by and large, very positive for [crypto] exchanges.\u201d<\/p>\n Wood joins the ranks of crypto industry pundits who have made similar points<\/a>arguing that the ruling \u2014 which found that XRP (XRP<\/a>) tokens sold to retail investors on crypto exchanges were not securities \u2014 could set a positive precedent for Coinbase and Binance<\/a> in their respective legal battles with the regulator. <\/p>\n Wood explained that despite the crypto exchange receiving a Wells Notice<\/a> in March and being hammered by a lawsuit from the SEC<\/a> In June, the share price never fell to new lows, suggesting a robustness in the value of Coinbase stock. <\/p>\n On July 11, Wood’s flagship fund, the ARK Innovation exchange traded fund (ETF) cashed in on the crypto exchange’s<\/a> impressive rally, selling 135,152 Coinbase shares, worth $12 million at the time. <\/p>\n Coinbase began 2023 trading at just $33.60 a share. At the time of publication shares of COIN have surged more than 184% since then to reach a price of $105.55 according to data from TradingView. <\/p>\n