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

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Mon, 16/08/2021 - 19:23
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.

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