Coinbase Has Acquired This SEC Registered Bitcoin Investment Firm!

Cryptocurrency terminated its partnership with the friendly bank Silvergate. coinbase in a statement today SECis a corporate digital asset manager registered with One River Digital Asset Management’announced that he bought it.

Announcing the acquisition in its blog post, Coinbase has acquired One River Digital Asset Management, a subsidiary of One River Asset Management, and is now Coinbase Asset Management (CBAM), he said.

The organization, restructured as Coinbase Asset Management, will provide investment advisory services to new and existing institutional clients.

Coinbase made the following statement in its statement:

“We are excited to announce that Coinbase has acquired One River Digital Asset Management, a subsidiary of One River Asset Management.

One River Digital Asset Management (ORDAM), an SEC-registered investment advisor, has now been restructured as Coinbase Asset Management.

ORDAM will form the foundation of Coinbase Asset Management and will provide investment advisory services to a range of new and existing institutional clients.

With this acquisition, we are excited to welcome ORDAM’s best-in-class team to Coinbase and form a deep partnership to expand institutional access to digital assets.”

Coinbase, which did not disclose the purchase amount, stated that this acquisition is in line with their long-term strategy to unlock more opportunities for institutions to participate in the cryptocurrency economy.