OpenSea investor marks down stake in platform by 90%: Report

United States tech investment firm Coatue Management has marked down the value of its stake in nonfungible token (NFT) platform OpenSea by 90%.

On Nov. 7, The Information reported on a document it reviewed showing that Coatue had reduced its investment from $120 million to $13 million — implying that OpenSea has fallen to an on-paper valuation of $1.4 billion.

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