One River Digital Becomes Coinbase Asset Management
One River Digital will transition to become Coinbase Asset Management, an independent business and a wholly-owned subsidiary of the cryptocurrency exchange. The CEO, Eric Peters, will remain a leader under the rebranded firm.
Aligned Ethos and Minimal Disruption
Coinbase and ORDAM share an ethos grounded in prudent risk management and are culturally aligned in pursuing the opportunity in digital assets, prioritizing safety and soundness. The acquisition will result in minimal disruption to current business activities.
Cutting Ties with Silvergate
This news follows Coinbase leading the charge in several crypto firms cutting ties with Silvergate due to reported investigations from the U.S. Department of Justice. Coinbase has already announced that Signature Bank will take over institutional client cash transactions for its prime customers.