Investment bank TD Cowen shuts crypto unit a year after opening

At the time, the firm also teased that it would launch additional services revolving around futures, derivatives and decentralized finance. While it had also made executiveHowever, in a new email currently circulating online andby outlets such as Bloomberg News, Cowen Digital and its team of roughly 10 employees, will close down as of June 1.

“Today will be the last day for the team here at Cowen Digital,” the email read. It did not disclose the reasons behind the closure. The Cowen bank itself had undergone a shake-up over the last 12 months, after it was acquired by TD Bank Group for $1.3 billion in August 2022, with the deal beingCointelegraph has reached out to Cowen for comment and will update the article if the company responds.woes in 2023.Notably, the email suggested that the Cowen Digital team is looking to carry on its work under a different organization.

“Our entire team believes strongly in the need for trusted counterparties who understand the needs of institutional investors – through white-glove high and low touch execution, deep knowledge-driven content, corporate access and group educational events. We will continue to try and fulfill that endeavor, but will have to do so in a different home,” the email reads.The closure of Cowen Digital marks the second institutional crypto client unit to shut down in the space of a week.

The firm cited a “prolonged crypto winter” along with a tough regulatory climate in the U.S. Cointelegraph also reported in February that DCG sufferedMagazine:

The multinational bank launched Cowen Digital in March 2022 to provide institutional clients exposure to the crypto market via 16 crypto assets, including Bitcoin and Ethereum.

Sverige Senaste nytt, Sverige Rubriker

Similar News:Du kan också läsa nyheter som liknar den här som vi har samlat in från andra nyhetskällor.

Investment bank Cowen's digital asset unit is shutting downInvestment bank Cowen's digital asset unit, launched last year, is closing down.
Källa: TheBlock__ - 🏆 464. / 53 Läs mer »

Jeffrey Epstein Tried to Start Investment Fund With Bill Gates: EmailsThe fund, according to messages sent by Epstein to his bankers, would be “the most exclusive of clubs,” but apparently never got off the ground.
Källa: thedailybeast - 🏆 307. / 63 Läs mer »

Protect Your Investment and Your Cargo with a Truck Tonneau CoverIs your truck's bed exposed to the elements and your gear to potential thieves? Protect your investment—and your property—with a tonneau cover. Here are some of the best sellers on the market.
Källa: CARandDRIVER - 🏆 576. / 51 Läs mer »

Breakingviews - Debt deal sacrifices $140 bln return on investmentThe U.S. government could soon shrink one of its most promising investments. The budget deal agreed to by President Joe Biden and top congressional Republican Kevin McCarthy would move $20 billion away from the Internal Revenue Service over the next two years. The change shores up cash for other agencies, but projections suggest the IRS funding would’ve made a significant step toward closing the government’s $925 billion budget gap.
Källa: Reuters - 🏆 2. / 97 Läs mer »

Breakingviews - Debt deal sacrifices $140 bln return on investmentThe U.S. government could soon shrink one of its most promising investments. The budget deal agreed to by President Joe Biden and top congressional Republican Kevin McCarthy would move $20 billion away from the Internal Revenue Service over the next two years. The change shores up cash for other agencies, but projections suggest the IRS funding would’ve made a significant step toward closing the government’s $925 billion budget gap.
Källa: Reuters - 🏆 2. / 97 Läs mer »

Letter: Debt is not investmentNorth Aurora letter to the editor: Recently, a letter writer tried to make the point that debt and investment are the same thing.
Källa: dailyherald - 🏆 317. / 59 Läs mer »