Institutional investors
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...
Institutional investors are buying through crypto winter: Survey
A survey of institutional investors suggests that their cryptocurrency allocations have increased over the last year despite the industry going through a prolonged crypto winter. A Coinbase-sponsored survey released on Nov. 22 conducted between Sep. 21 and Oct. 27, found 62% of institutional investors invested in crypto had increased their allocations over the past 12 months. In comparison, only 12% had decreased their crypto exposure, indicating most institutional investors may be bullish on digital assets in the long term despite prices falling, according to the survey. More than half of the investors surveyed said they were currently, or planning, to use a buy-and-hold approach for cryptocurrencies, with the belief that crypto prices will stay flat and range bound over the next 12...
