Tiger Global Management Exits Coinbase Investment

Investment Shift

Tiger Global Management, a seasoned investment firm, has fully divested itself from the cryptocurrency exchange platform Coinbase. This move was revealed through a regulatory filing submitted to the U.S. Securities and Exchange Commission on Wednesday.

Portfolio Update

The filing, known as a 13F form which details the company's holdings, indicated Tiger Global's shift from holding 38,850 Coinbase shares to none by December 31st. Previously, these shares were valued at approximately $2.9 million.

Market Dynamics

Interestingly, this sell-off comes after Coinbase's significant surge in share price, over 400%, as the cryptocurrency market recovered from a prolonged bear phase. Tiger Global had played a pivotal role as a substantial investor during Coinbase's October 2018 funding round, asserting their confidence in the crypto platform's growth potential.