Crypto exchange Coinbase has acquired hedge fund One River Digital Asset Management (ORDAM), the company announced in a recent blog post.

One River Digital will transition to become Coinbase Asset Management, an independent subsidiary of the crypto exchange, according to the blog post.

“Coinbase and ORDAM share an ethos grounded in prudent risk management…our two organizations are strongly aligned on pursuing the opportunity in digital assets with an uncompromising priority on safety and soundness,” Coinbase said.

Peters would remain as leader under the rebranded company, the exchange said.

Author: Katie Lin