Tiger Global, which has a roughly 50-50 asset ratio between stocks and venture capital firms, has sold most of its crypto holdings at a profit several months ago, three people familiar with the matter said.
In addition to buying bitcoin and ethereum, the company has invested in DeFi protocols in an effort to gain exposure to the Web3 space, but appears to be profiting from liquidity trades in the short term before cashing out, the sources said.
However, the exit from crypto trading has not affected the company’s venture business, with Tiger leading a $40 million Series A round for blockchain banking startup BVNK at a post-money valuation of $340 million.
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