United States tech investment firm Coatue Management has drastically reduced its valuation of the non-fungible token (NFT) platform OpenSea. Recent documents reviewed by The Information on November 7 reveal a sharp 90% markdown, reducing Coatue’s investment from $120 million to $13 million. Consequently, the implied valuation of OpenSea has plummeted to $1.4 billion. This downward ... Read more
