ARK Invest, led by Cathie Wood, sold 13,780 shares of Coinbase Global Inc., valued at $3.9 million, following a market downturn triggered by a hawkish speech from Federal Reserve Chair Jerome Powell. The sale occurred as Coinbase's stock price fell to $274 per share, marking a 2% decline on the day and a 13% drop over the past five days. This move is part of ARK's portfolio rebalancing efforts, with the firm still holding over 2.45 million shares in Coinbase, valued at $672 million, which represents 9.9% of ARK's Fintech Innovation ETF (ARKF) and a $110 million allocation. The broader crypto market, including Bitcoin, also experienced a sharp decline, with Bitcoin dropping to $97,430 after reaching an all-time high of $108,135 earlier in the week and tumbling to $100K.