Insiders: Tiger Global's largest hedge fund has written down the value of its OpenSea shares by 94% and BAYC by 69%

ChainCatcher news, according to Bloomberg citing informed sources, Tiger Global Management's largest hedge fund has written down the value of its OpenSea shares by 94%, and the investment value in BAYC has been written down by 69%.

Previous report, on November 8, New York-based hedge and venture fund Coatue Management reduced the value of its OpenSea shares, which were once worth $120 million, by 90% to $13 million in the second quarter of 2023. This means the company believes OpenSea's current paper valuation is $1.4 billion or less.