Singapore’s state investment fund Temasek, one of the largest investors in the world, has sold off its modest position in crypto exchange Coinbase (COIN), according to its latest U.S. Securities and Exchange Commission (SEC) filings.
- In its third quarter filing, the fund listed ownership of 8,168 Coinbase shares worth approximately $2.1 million, but its fourth quarter filing shows no Coinbase holdings. Temasek’s total portfolio was valued at $301 billion as of the end of 2021.
- Coinbase’s stock has declined about 40% since its initial public offering last April.
- Temakske also eliminated its holdings in Uber (UBER) and Tencent Music Entertainment (TME) and added positions in trading platform Robinhood (HOOD), payments company Toast (TOST) and betting platform Draft Kings (DKNG)
UPDATE (Feb. 14, 19:22 UTC): Added additional position changes in last bullet. point.
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