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Chip Manufacturer Intel Corp Reveals Its Stake In Crypto Exchange Coinbase

Intel Corp, a prominent chip manufacturer, has announced that it owns a minor stake in Coinbase (a crypto exchange). The organization, known to be the biggest manufacturer of semiconductor chips across the globe, revealed that it possessed about 3,014 shares in common Class A stock of Coinbase. This declaration was given by the company in its quarterly report submitted to the SEC (Securities and Exchange Commission) of the United States.

As per the reports, the worth of these shares is nearly $788,000. The first investment of Intel Corp in Coinbase was made in the Q2 of 2021 during April when a straight listing was released by the exchange. During the first day, the exchange’s value rose up to $112 billion. The reports mentioned Coinbase as extremely valuable among the others in the United States.

The new additions of Coinbase pave the way toward milestones

The exchange has continuously enlarged its span of trading options to facilitate the clients. Recently, it introduced five further assets on 12th August. The assets are consisting of Ethereum tokens named AXS (Axie Infinity), WLUNA (Wrapped Luna), QUICK (Quickswap), TRU (TrueFi), and REQ (Request). Among these tokens, TRU and REQ are creating new landmarks simultaneously. Particularly, TRU touched $1.04, which is its latest all-time high, while REQ reached a yearly top of $0.33 respectively. It was indicated by the analysis that these achievements could have been backed by Coinbase.

The data states that the price of TRU had slipped to $0.61. In the meantime, REQ continuously spikes more than $0.33 till it reached $0.41 on 13th August. Nonetheless, from that time onwards, it has also dipped to a price of about $0.25.

The U.S. authorities adopt the software made by Coinbase

It has been disclosed by the reports that federal agencies for law enforcement are also to be added to the aforementioned list. The further information signaled that the United States’ ICE (immigration and Customs Enforcement agency) had acquired the computer forensic program which has been developed by the exchange. ICE is making contacts with the other agencies under the government, such as the IRS (the Internal Revenue Service), to know how to operate the software for the respective processes. The reported cost of the forensics program is approximately $29,000 one year is the estimated time span for its performance.

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