Singapore Investment Holding Company Temasek Sells its Coinbase Shares
Main page Finance, Cryptocurrency Exchanges

Temasek, a Singapore-based investment holding company, has sold the shares it owned of crypto exchange Coinbase, according to a report published by the US Securities and Exchange Commission (SEC).

According to the third-quarter 2021 documents, Temasek owned 8,168 shares of the exchange valued at about $2.1 million.

However, in the Q4 report there is no trace about Temasek's investment in the crypto platform. The total portfolio of the holding company at the end of last year was estimated at $301 billion.

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Last April 14, 2021, Coinbase shares started trading on Nasdaq under the ticker COIN. The opening price was $381. During the first trading session, the company's capitalization exceeded $85 billion.

On May 17, the company's share price fell below the benchmark price of $250 for the first time. The fall coincided with the crash in the cryptocurrency market, with Bitcoin sliding to $42,185.

The closing price of the company's shares in yesterday's session was $194.53, representing a 40% drop since the company's IPO.

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