Among other contributing factors, crypto economy-based financial technology company Coinbase’s (COIN) shares have soared in price over the past few months on bitcoin’s price advance. Can the stock still gain despite ongoing investigations into the company’s activities? Continue reading to find out more. Coinbase Global NASDAQ:, Inc. is a San Francisco-based company that provides the technology and financial infrastructure necessary for crypto. On April 14th, 2021, the company’s stock market debut was made at an estimated valuation of close to $100 billion. The shares shot up in value to reach a 52-week high at $429.54. Partly due to investor optimism, Cathie Wood had purchased $245.90 millions of the shares.

The stock has gained 24.4% in price over the past month to close Friday’s trading session at $300.84. Although it’s trading below its 52 week high, 30% is still on the market.

This month, COIN became the custody partner of Facebook, Inc.’s (NASDAQ:) new digital wallet, Novi. Coinbase NFT, which is a peer to-peer marketplace, was announced by the COIN on October 12. It will make it easier than ever for NFTs to be purchased, mined, showcased, discovered, and bought. COIN has also seen a rise in bitcoin prices. However, the company’s director, Frederick Ernest Ehrsam III, sold 87,649 shares. In addition, this month, Cathie Wood’s Ark Invest completed the sale of 98,427 shares of COIN. The company is also under investigation for alleged securities law violations. The company’s future prospects in the near term are uncertain.

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