ChainCatcher news, according to GlobeNewswire, digital asset management company 21.co announced a restructuring of its operational framework, splitting its original business into two independent entities: 21Shares and 21.co Technologies. 21.co will continue to serve as the holding company for both entities. The new structure will take effect on January 6, 2025.After the restructuring, co-founders Hany Rashwan and Ophelia Snyder will serve as co-chairs of 21Shares and will focus their efforts on 21.co Technologies, serving as CEO and President, respectively. Former abrdn Global Head of Alternatives and Multi-Asset Investing Russell Barlow will take on the role of CEO of 21Shares, managing over $20 billion in assets.21Shares will focus on asset management and ETP business, while 21.co Technologies will be dedicated to developing next-generation products such as tokenized assets, smart contracts, and risk management. This business restructuring aims to respond to a new wave of growth in the digital asset industry, allowing both entities to better achieve their respective business objectives.

According to ChainCatcher, citing informed sources from Blockworks, crypto investment management company Abra is restructuring its business lines and considering cost-cutting measures as a buffer against the bear market. Informed sources indicate that the actions taken by Abra's senior management include layoffs in the company's sales, trading, and research departments.Additionally, Abra plans to hire a Chief Investment Officer, and the heads of trading, credit, and asset management departments will report to the Chief Investment Officer in the future. The Chief Investment Officer's task will be to provide oversight and determine how to allocate capital to each department.ChainCatcher previously reported that Abra announced a $55 million Series C funding round in September this year, led by IGNIA and Blockchain Capital. This funding will be used to expand the company's product and marketing teams, as well as to further develop products aimed at high-net-worth clients and institutions. (Blockworks)