One River Digital Asset Management (ORDAM)

History

2023: Coinbase купил One River Digital Asset Management (ORDAM)

On March 3, 2023, cryptocurrency exchange Coinbase announced the purchase of One River Digital Asset Management (ORDAM), a crypto asset management company.

To meet our goal of bridging the gap between institutions and crypto-economics, we are pleased to announce that Coinbase has acquired One River Digital Asset Management, a subsidiary of One River Asset Management. ORDAM, an SEC [Securities and Exchange Commission] listed investment adviser, will become the backbone of Coinbase Asset Management and offer investment advisory services to a number of new and existing institutional clients, Coinbase said in a statement.

Cryptocurrency exchange Coinbase acquires crypto asset management company

Unlike most well-known crypto companies, One River Digital, founded by macro trader Eric Peters as a division of his hedge fund, focuses on serving only institutional clients, such as pension funds. The emphasis is on wealth management, not trading. Such a model made the One River Digital business less vulnerable to sharp fluctuations in cryptocurrency rates, which affected many other market participants.

Once the deal is completed, ORDAM will become Coinbase Asset Management (CBAM) and function as a stand-alone business. In this case, the structure will receive the status of a subsidiary, which is fully owned by Coinbase. Eric Peters will continue as CEO and Chief information officer of CBAM and CEO and Chief information officer of his hedge fund, One River Asset Management. The formed structure will offer investment advisory services to a number of new and existing institutional clients. The acquisition is part of Coinbase's long-term strategy to provide additional opportunities for institutions to participate in the crypto economy.^[1]

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