Temasek, the Singaporean investment holding, has sold shares of the Nasdaq-listed cryptocurrency exchange Coinbase. This is evidenced by report for the U.S. Securities and Exchange Commission (SEC).
According to documents for the third quarter 2021, Temasek held 8,168 Coinbase shares worth about $2.1 million.
In the fourth-quarter report, there is no information about Temasek’s stake in Coinbase shares. The holding’s total portfolio at the end of last year was valued at $301 billion.
On April 14, 2021, direct listing of Coinbase (ticker: COIN) on Nasdaq. The opening price was $381. During the first session, the company’s market capitalization exceeded $85 billion.
On May 17, the stock price first fell below the reference price ($250). The decline came amid a crypto-market correction — Bitcoin briefly reached $42,185.
In the same month, Coinbase announced a private placement of convertible bonds worth $1.25 billion with maturity in 2026.
In September the company announced plans to conduct a private placement of two bond issues totaling $1.5 billion.
The closing price on Monday, February 14, 2022, was $194.53. Since listing, COIN shares have fallen more than 40%.
In April 2021, asset manager Ark Invest, through three of its exchange-traded funds, bought 749,205 Coinbase shares on the first day of trading.
In the same month, Cathie Wood bought additional Coinbase securities worth $110 million.
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