After the crypto meltdown of 2022, many investors expected Coinbase Global (NASDAQ: COIN) to turn things around this year. But that hasn't been the case. Trading volume is still down, and Coinbase has had difficulty winning back traders after the long crypto winter.

Even worse, it now finds itself in the middle of a regulatory battle with the Securities and Exchange Commission (SEC), which filed a lawsuit against the company on June 6, accusing it of operating as an unregistered securities exchange.

Yet, despite all of these travails, the stock is still up more than 60% for the year and remains on the radar of value investors hoping for a rebound in the crypto market. In fact, immediately after the SEC filed its lawsuit against Coinbase, Cathie Wood of Ark Investment scooped up another 419,324 shares worth a total of $21.6 million. Should you follow her lead, or is it time to throw in the towel on the stock?

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Source Fool.com