Key Points:
One River Digital, a US Securities and Exchange Commission-registered subsidiary of One River Asset Management, will be renamed Coinbase Asset Management and will form the foundation of the exchange’s investment advisory service for institutional clients, according to a blog post published by the exchange on Friday. The deal’s details were not disclosed.
Erik Peters established ORDAM in 2013. According to the firm, it will now function as a standalone business and a wholly-owned subsidiary of Coinbase.
Eric will continue to be the CEO/CIO of ORDAM (now CBAM) as well as the CEO/CIO of One River Asset Management, a separate and unaffiliated company. Eric has worked in the asset management profession for over 30 years.
One River Asset Management partnered with Coinbase at the beginning of the year to develop a platform for wealth managers to provide crypto exposure to their customers.
In reaction to the recent dip in transaction volume, Coinbase has been attempting to grow beyond its core retail trading business. Its new layer 2 blockchain Base’s test network was launched last week.
The business indicated that institutional investment management is part of its plan, as is its expansion into the developer industry via Base.
The acquisition announcement comes only one day after Coinbase and other significant industry players revealed that they would no longer bank with Silvergate, a leading industry banking partner. With their other banking partner, Signature Bank, the exchange’s Prime clients will be able to conduct institutional client cash transactions.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Harold
Coincu News
Discover the Best New Meme Coins to Join for 2025. BTFD Coin's price rollback offers…
Discover how DTX Exchange's historic achievement of 100,000 transactions per second on a layer-1 blockchain…
VanEck suggests the U.S. could reduce its national debt by 35% by 2050 through a…
President-elect Donald Trump named Bo Hines as the executive director of the presidential crypto council.
Explore the best new meme coins with 1000X potential. Learn how BTFD Coin leads with…
BlockDAG crosses $170.5M in presale success with BDAG250 bonus and Whitepaper V3 launch! Solana grows…
This website uses cookies.