April 1, 2023

Coinbase, the leading crypto exchange firm in the US, has announced its acquisition of One River Asset Management (ORAM), a Connecticut-based digital asset manager. The move is aimed at expanding Coinbase’s product lineup and providing services to retail, institutional, and individual customers. The acquisition will also lead to a restructuring of Coinbase’s core units, with the launch of an asset management department tasked with guiding institutional investors in navigating the crypto space.

The acquisition of ORAM will see the digital asset manager rebranded to Coinbase Asset Management. The move is seen as a response to fierce market competition, with Coinbase seeking to expand its offerings and stay ahead of the curve in the rapidly evolving crypto space.

Commenting on the acquisition, Coinbase CEO Brian Armstrong said, “We are excited to welcome the One River team to Coinbase and look forward to working together to provide our customers with the best possible experience in the crypto space. This acquisition is a key part of our strategy to expand our product lineup and provide a comprehensive suite of services to our customers.”

The move comes as Coinbase continues to grow its user base and expand its offerings. The company recently announced plans to go public through a direct listing on the Nasdaq, a move that is expected to value the company at over $100 billion.

With the acquisition of ORAM, Coinbase is positioning itself as a leader in the crypto asset management space, providing institutional investors with the tools and guidance they need to navigate the complex world of digital assets. As the crypto space continues to evolve and mature, Coinbase is well-positioned to capitalize on the growing demand for crypto-related services and products.

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