Coinbase announces acquisition of One River Digital Asset Management By Cointelegraph

United States-based cryptocurrency exchange Coinbase (NASDAQ:) has acquired cryptocurrency-focused hedge fund One River Digital Asset Management, or ORDAM.

In a March 3 blog post, Coinbase said One River Digital will transition to become Coinbase Asset Management, “an independent business and wholly-owned subsidiary” of the crypto exchange. One River Digital is registered as an investment adviser under the U.S. Securities and Exchange Commission and has previously accepted investments from Coinbase to scale its operations.