Intel buys small stake in crypto exchange Coinbase

The chipmaker held about 3,014 shares of Coinbase’s Class A common stock as of June 30, Intel said in a regulatory filing. The Coinbase shares would be worth around $788,191, based on trading price on Friday. Intel did not immediately respond to an agency request for comment. Major players have doubled down on crypto holdings including star stock picker Cathie Wood and Tesla Inc Chief Elon Musk. One of the largest cryptocurrency exchanges in the world, 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.