Share this article

Singapore State Investment Fund Temasek Eliminates Position in Coinbase

The investment giant previously held about 8,168 shares in the U.S.-listed crypto exchange.

Updated May 11, 2023, 7:12 p.m. Published Feb 14, 2022, 3:08 p.m.

NEW YORK, NY - APRIL 14: Monitors display Coinbase signage during the company's initial public offering (IPO) at the Nasdaq market site April 14, 2021 in New York City. Coinbase Global Inc. is the largest U.S. cryptocurrency exchange, debuting today through a rare direct listing. (Photo by Robert Nickelsberg/Getty Images)

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.
Meanwhile, Temasek was one of the investors in FTX.US’ recent $400 million Series A funding round at an $8 billion valuation. It was not known how much Temasek had invested in FTX.US; other prominent investors in the round included Paradigm, SoftBank and Multicoin Capital.
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)

STORY CONTINUES BELOW

Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters

By signing up, you will receive emails about CoinDesk products and you agree to our terms of use and privacy policy.

UPDATE (Feb. 14, 19:22 UTC): Added additional position changes in last bullet. point.

Coinbase

Nelson Wang

Nelson edits features and opinion stories and was previously CoinDesk’s U.S. News Editor for the East Coast. He has also been an editor at Unchained and DL News, and prior to working at CoinDesk, he was the technology stocks editor and consumer stocks editor at TheStreet. He has also held editing positions at Yahoo.com and Condé Nast Portfolio’s website, and was the content director for aMedia, an Asian American media company. Nelson grew up on Long Island, New York and went to Harvard College, earning a degree in Social Studies. He holds BTC, ETH and SOL above CoinDesk’s disclosure threshold of $1,000.