Singapore's Temasek Fund Dumps Its Coinbase Stake

Singapore’s state investment fund Temasek has sold its stake in cryptocurrency exchange Coinbase (COIN), according to the latest filings from the U.S. Securities and Exchange Commission (SEC). In the third-quarter filing, the fund listed 8,168 Coinbase stock ownership, worth about $2.1 million, but the fourth-quarter filing showed no Coinbase holdings. Temasek's total portfolio is worth US$301 billion by the end of 2021. Coinbase’s stock has fallen about 40 percent since its initial public offering last April, market data shows.