Coinbase announces acquisition of One River Digital Asset Management

United States-based cryptocurrency speech Coinbase has acquired cryptocurrency-focused hedge money One River Digital Asset Management, oregon ORDAM.

In a March 3 blog post, Coinbase said One River Digital volition modulation to go Coinbase Asset Management, “an autarkic concern and wholly-owned subsidiary” of the crypto exchange. One River Digital is registered arsenic an concern advisor nether the U.S. Securities and Exchange Commission, and has previously accepted investments from Coinbase to standard its operations.

“Coinbase and ORDAM stock an ethos grounded successful prudent hazard management, a trait which has enabled some firms to successfully navigate the caller marketplace turmoil,” said Coinbase. “Culturally, our 2 organizations are powerfully aligned connected pursuing the accidental successful integer assets with an uncompromising precedence connected information and soundness.”

As portion of the acquisition, Coinbase said One River Digital’s squad would articulation the crypto speech and main enforcement officers Eric Peters would enactment connected arsenic person nether the rebranded firm. The speech suggested “minimal disruption to existent concern activities” amid the transition.

Related: Coinbase partners with One River to rotation retired caller organization platform

News of the acquisition followed Coinbase starring the complaint successful a slew of crypto firms cutting ties with Silvergate amid reports the slope was nether probe from the U.S. Department of Justice implicit its alleged engagement successful the illness of FTX. The crypto speech has already announced Signature Bank volition instrumentality implicit organization lawsuit currency transactions for its premier customers.