CrossTower
CrossTower to acquire institutional prime brokerage BEQUANT
Cryptocurrency exchange CrossTower Inc has agreed to buy digital asset trading platform BEQUANT, which comes after months of window shopping by CrossTower for crypto companies, including a recently revised offer for Voyager Digital’s assets. The Nov. 28 acquisition will provide CrossTower with over 600 new professional exchange clients in addition to its existing clientele. The incoming clients are based across the United States, Europe, Asia, and Latin America and are collectively making over $400 billion annually. The purchase comes as CrossTower CEO Kapil Rathi stated on Nov. 24 that CrossTower has long been on the lookout to buy digital asset companies with a “good set of customers” and a “good balance sheet,” which included a second look at the now-bankrupt cryptocurrency lendin...
CrossTower eyeing further crypto acquisitions outside of Voyager bid
Crypto exchange CrossTower Inc., which is currently bidding for the assets of Voyager Digital, is reportedly window shopping for other crypto company acquisitions. In a Nov. 24 Bloomberg report, CrossTower CEO Kapil Rathi revealed that the company is looking to pick up firms with a “good set of customers” and a “good balance sheet” despite the current bear market, stating: “We’re in a great place to either acquire entities who have a good set of customers with them and a good balance sheet […] so we are openly looking at different types of companies from an organic growth perspective.” In September, CrossTower was one of the companies reported to be competing to acquire the assets of bankrupt crypto lender Voyager Digital, along with FTX and Binance. FTX Trading eventually...
