Coinbase Went On A Shopping Spree ??

Coinbase Just Bought A New Toy ???

What does an Aussie say when they’re impressed? ORDAM ??

Coinbase?just purchased an institutional digital asset manager,?One River Digital Asset Management.?

Financial details were not disclosed. Here’s what you should know:?

• One River Asset Management is the parent company of One River Digital Asset Management (there’s at least one pun, keep reading).
• What? One River is evolving!?ORDAM will morph into Coinbase Asset Management, becoming a subsidiary of Coinbase.?
• The firms are friendly already.?Coinbase Ventures was an early investor in One River Asset Management. ORDAM also “leverages Coinbase Prime” for institutional clients (full PR-speak below).

Okay, So What?

Goodbye college kids, hello sovereign wealth funds. This is a strategic move toward institutional investors.?

If that’s indicative of the exchange making a mad dash to make up the 12% it lost in Q4 ‘22, falling in line with lackluster trading volumes for crypto exchanges as a whole,?Coinbase could be leading its sector to switch gears toward large piles of capital.?

Alongside Coinbase’s venture arm, the most recent investors of ORDAM are Goldman Sachs and Liberty Mutual Insurance. Regulatory assistance in an ever-shifting crypto space, capital injection, and networking expansion could all be in play if the firms get on nicely.?

To keep it simple: They’re buying ??

It’s the first blip on the acquisition radar for some time. If nothing else, it shows that Coinbase is not keeping cash on the sideline... and acquisitions are exciting and you know it.

Straight from Coinbase's PR

●?Roughly 25% of the 100 largest hedge funds in the world by reported assets under management have chosen to onboard with Coinbase

●?Eric Peters will continue to serve as the CEO/CIO?of ORDAM?(now CBAM) as well as the CEO/CIO of One River Asset Management, an unaffiliated and independent businesss?

●?The acquisition aligns with Coinbase’s long-term strategy to unlock further opportunities for institutions to participate in the cryptoeconomy?

●??ORDAM leverages Coinbase Prime?to deliver differentiated investment solutions to sophisticated institutions and we’re partnering to build innovative digital asset management infrastructure such as?ONE Digital SMA, a suite of digital investment strategies and indexes in an easy-to-use separately managed account (SMA) platform powered by Coinbase Prime and Coinbase Custody, a New York DFS qualified custodian?

Coinbase Overview & Numbers

● Coinbase?– Industry: Financial Data & Stock Exchanges | Market Cap: 16.895B | CEO: Brian Armstrong | HQ: Delaware?

● Reported:?Fourth-quarter revenue of $629.1 million | $5.5 billion “total USD resources” a.k.a. “cash and cash equivalents” | 8.3 million monthly transacting users in Q4 ‘22?

One River Digital Asset Management Overview

●?ORDAM – Financial Services, Asset Management | CEO/CIO of ORAM (no D) and ORDAM (now Coinbase Asset Management) | HQ: Connecticut?

●?One River Digital Asset Management is an SEC registered investment adviser and Commodity Pool Operator regulated by the National Futures Association (according to the bottom of its website. All rights reserved, too)?

●?Advertised services include long-only strategies in Bitcoin and Ethereum, two indices as well as trend following, income, and credit