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Coinbase announces acquisition of One River Digital Asset Management

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The empire strikes back as Coinbase acquires a crypto hedge fund and rebrands it as Coinbase Asset Management.

“Coinbase and ORDAM share an ethos grounded in prudent risk management, a trait which has enabled both firms to successfully navigate the recent market turmoil,” said Coinbase. “Culturally, our two organizations are strongly aligned on pursuing the opportunity in digital assets with an uncompromising priority on safety and soundness.”

As part of the acquisition, Coinbase said One River Digital’s team would join the crypto exchange and chief executive officers Eric Peters would stay on as leader under the rebranded firm. The exchange suggested “minimal disruption to current business activities” amid the transition.

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“Coinbase and ORDAM share an ethos grounded in prudent risk management, a trait which has enabled both firms to successfully navigate the recent market turmoil,” said Coinbase.

Looks like giants start to aquire small ones

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Coinbase purchases One River Digital in move into asset management businessTerms of the deal were not disclosed.
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