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Tiger Global Exited Coinbase Stake Late Last Year, Filing Shows
Tiger sold 38,850 shares during the fourth quarter.
Investment firm Tiger Global Management sold its stake in crypto exchange Coinbase (COIN) late last year, according to a Wednesday regulatory filing.
Tiger Global's 13F filing with the U.S. Securities and Exchange Commission showed that it held no Coinbase shares as of Dec. 31. Three months earlier, it had 38,850 shares worth $2.9 million at the time, according to a previous filing.
STORY CONTINUES BELOW
The sales followed a more than 400% rally in Coinbase (COIN) shares as crypto emerged from a deep bear market.
Read more: Coinbase to Report Strong Earnings, ETF Benefits May Surprise Wall Street, Analysts Say
Tiger Global was a key investor in Coinbase before its public listing, leading the exchange's $300 million series E funding round in October 2018.
Krisztian Sandor
Krisztian Sandor is a U.S. markets reporter focusing on stablecoins, tokenization, real-world assets. He graduated from New York University's business and economic reporting program before joining CoinDesk. He holds BTC, SOL and ETH.
