US Investment Giant Tiger Global Discloses $665 Million Stake in Coinbase

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Mon, 08/16/2021 - 19:23

Alex Dovbnya

Tiger Global Management owns hundreds of millions of dollars worth of the Coinbase stock

US Investment Giant Tiger Global Discloses $665 Million Stake in Coinbase

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Investment behemoth Tiger Global Management, which boasts $79 billion worth of assets under management, has disclosed a $665 million stake in leading cryptocurrency exchange Coinbase in its Aug. 16 filing with the U.S. Securities and Exchange Commission.

The New York-based firm holds 2,625,294 COIN shares that are currently worth $679 million.

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The Coinbase stock is trading at $259 at the time of writing after tumbling 12 percent from its recent high of $293 that was reached on Aug. 11.

As reported by U.Today, semiconductor chip manufacturer Intel revealed that it had bought $763,000 worth of COIN shares.

Tiger Global Management led Coinbase’s $300 million Series E funding round that was closed in October 2018.

About the author

Alex Dovbnya

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.