Coatue Management reduces OpenSea stake by 90%
According to documents reviewed by TheInformation, Coatue Management, a US investment management company focused on technology, has reduced its stake in OpenSea by nearly 90%. Coatue reduced its stake in the NFT platform worth $120 million to $13 million in the second quarter of 2023. This move indicates that OpenSea's valuation is not more than $1.4 billion. In addition to OpenSea, Coatue also reduced its stake in MoonPay, a web3 infrastructure company, by 90%.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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