Coinbase acquires digital asset management company One River Digital Asset Management

ChainCatcher news, Coinbase has announced the acquisition of One River Digital Asset Management (ORDAM), an institutional-grade digital asset management firm, which is registered as an investment advisor with the U.S. Securities and Exchange Commission (SEC). ORDAM will be transformed into Coinbase Asset Management (CBAM) and will operate as an independent business and a wholly-owned subsidiary of Coinbase. One River founder Eric Peters will continue to serve as the CEO of CBAM.

Coinbase stated that this acquisition aligns with its long-term strategy to provide more opportunities for institutions to participate in the crypto economy. (Source link)