CDS Crypto News Coinbase, a Crypto Exchange Acquired One River Digital Asset Management
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Coinbase, a Crypto Exchange Acquired One River Digital Asset Management

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Coinbase, A Crypto Exchange Acquired One River Digital Asset Management

Top institutional digital asset manager One River Digital Asset Management was recently acquired by by the biggest cryptocurrency exchange in the United States Coinbase Global Inc. As a result of the acquisition, One River will serve as the flagship of Coinbase Asset Management, advising a wide range of institutional investors on their investment strategies.

Coinbase, A Crypto Exchange Acquired One River Digital Asset Management

Coinbase, a Crypto Exchange Acquired One River Digital Asset Management

According to Сoinbase’s official release, the acquisition will help the company get closer to its long-term aim of bridging the gap between the regular economy and the cryptocurrency market. With over $130 billion in quarterly institutional trading activity and over $50 billion in institutional assets held on the platform, Сoinbase is still the epicenter of the institutional digital asset market. As of Q4 2022, more than 25% of the world’s top 100 hedge funds by reported assets under management have opted to join Сoinbase.

Coinbase, A Crypto Exchange Acquired One River Digital Asset Management

One River Digital

Оne River Digital was founded by professional macro trader Eric Peters as a subsidiary of his larger hedge fund. Оne River Digital, unlike most other major players in the cryptocurrency market, tailors its operations to meet the specific needs of institutional investors such as pension funds rather than general consumers.

Peters will continue in his roles as CEO and CIO of the newly formed Сoinbase Asset Management after the transaction. Experienced investment specialist Marcel Kasumovich will remain in his current role as the firm’s deputy chief investment officer. Earlier, Kasumovich worked at Goldman, Merrill Lynch and Soros Fund Management.

Source

www.thenewscrypto.com

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The author is 28 year old student recently graduated from Celal Bayar University, Faculty of Medicine. Currently he works as a writer and translator for different platforms.

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