Intel reveals its stake in Coinbase

Chip giant Intel recently acquired shares of Coinbase Global (COIN), a publicly traded exchange that deals with Bitcoin, Ethereum and other crypto assets.

Intel reveals its stake in Coinbase

Chip giant Intel recently acquired shares of Coinbase Global (COIN), a publicly traded exchange that deals with Bitcoin, Ethereum and other crypto assets.

Intel disclosed that it owns 3,014 shares of Coinbase at the end of June, according to a report by Barrons.

Coinbase stock holding wasn't disclosed at the end of the first quarter. In April, Coinbase shares began trading publicly through a direct listing process.

According to regulatory filings, public companies are only required to disclose investors with stakes of 5% or more.

A request for comment from the tech giant was not immediately returned.

Based on Coinbase's trading price of $261 after Friday's trading session on the Nasdaq, Intel's holding is relatively small—approximately $786,654—but it is required to announce the stake, since it owns publicly-traded investments in excess of $100 million.

The stock price of the digital exchange company at this point is over 5% higher than when it began trading at its reference price of $250.

In its latest earnings report, Coinbase disclosed that third-quarter customer activity will slow, though it had previously reported solid second-quarter results.

As of June 30, Intel owned 5.7 million shares of McAfee and 139,780 shares of MaxLinear.

As reported by Coinbase earlier this month, trading volume and transaction revenue grew in the second quarter, although lawmakers continue to be uncertain about whether cryptocurrencies constitute investments.

A number of blockchain projects have been funded by the chip processor company, and now it appears it is also dipping into the crypto world.

Intel is part of the Hyperledger collaboration with IBM and other major financial institutions launched by the Linux Foundation.

It revealed that its new product was designed for companies that need to quickly and effectively launch their own blockchain.

In an earlier announcement, Intel said its new product was designed to help companies quickly and easily launch their own blockchain.