United

Galaxy

DeFi

Base

Utopia

Arca and BlockTower Capital agreed to merge into a unified cryptocurrency investment platform, according to a Nov. 13 announcement. 
“Investors have been clamoring for regulated digital assets investment offerings for years,” Rayne Steinberg, Arca’s CEO, said in a statement.&nbsp; 
The merger will help ensure the firms possess “the resources and expertise to effectively manage our current product offerings and broaden our investment options,” Steinberg added.
Arca and Blocktower are both registered investment advisers in the United States. BlockTower’s venture capital arm, BlockTower Venture Capital, will continue to operate independently, the firms <a data-ct-non-breakable="null" href="https://www.ar.ca/blog/arca-and-blocktower-intend-to-merge-unlocking-synergies-and-growth-opportunities" rel="null" target="null" text="null" title="https://www.ar.ca/blog/arca-and-blocktower-intend-to-merge-unlocking-synergies-and-growth-opportunities">said</a>. 
“Competing in the maturing digital assets space and serving our investors requires a constant fight for top talent. By merging with Arca, we’re excited to create a stronger investment team immediately,” Ari Paul, BlockTower’s chief investment officer, said in a statement.
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 Source: Arca
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Related: <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/coinbase-buys-on-chain-payments-platform-utopia" rel="" target="_self" text="null" title="https://cointelegraph.com/news/coinbase-buys-on-chain-payments-platform-utopia">Coinbase acquires onchain payments platform Utopia</a>
In May, Blocktower Capital reportedly suffered losses after an exploit drained a portion of the firm’s cryptocurrency holdings. It managed around $1.7 billion at the time of the hack, according to Bloomberg.
Merger activity is heating up in Web3 as companies scramble to expand operations and add additional capabilities. 
On Nov. 13, Coinbase <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/coinbase-buys-on-chain-payments-platform-utopia" rel="" target="_self" text="null" title="https://cointelegraph.com/news/coinbase-buys-on-chain-payments-platform-utopia">bought Utopia Labs</a> in a bid to build out the cryptocurrency exchange’s onchain payments infrastructure.<advertisement>
 Utopia Labs’ team will join Base, Coinbase’s layer-2 scaling network, “to help accelerate our onchain payments roadmap within Coinbase Wallet,” Coinbase&nbsp;<a data-ct-non-breakable="null" href="https://www.coinbase.com/blog/coinbase-acquiring-team-to-accelerate-onchain-payments" rel="null" target="null" text="null" title="https://www.coinbase.com/blog/coinbase-acquiring-team-to-accelerate-onchain-payments">said</a>&nbsp;in a blog post.
 “There’s a natural flywheel here: Base is supporting developers who build onchain apps, those apps attract users onchain, Wallet onboards those users, and in turn more users incentivizes more developers to build onchain,” Coinbase said.
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 In October, payment giant Stripe&nbsp;<a data-ct-non-breakable="null" href="https://cointelegraph.com/news/stripe-acquires-stablecoin-platform-bridge-techcrunch-founder" rel="null" target="null" text="null" title="https://cointelegraph.com/news/stripe-acquires-stablecoin-platform-bridge-techcrunch-founder">acquired stablecoin platform Bridge</a>&nbsp;in a $1.1 billion deal in a bid to deliver on an earlier promise to add support for stablecoin payments.
 On July 9, DeFi Technologies <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/crypto-platform-defi-technologies-acquire-trading-desk-stillman-digital" rel="" target="_self" text="null" title="https://cointelegraph.com/news/crypto-platform-defi-technologies-acquire-trading-desk-stillman-digital">agreed to buy trading desk Stillman Digital</a> in an all-stock deal that analysts say will transform the Canadian crypto platform into “a smaller version of Galaxy Digital.”&nbsp;
 The acquisition reflected the need for crypto platforms to pursue scale “so they can use size and diversification to better navigate the industry’s significant momentum swings and the increasing competition in many of its sub-verticals,” Mark Palmer, an equities analyst at Benchmark, said.
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 Magazine:&nbsp;<a data-ct-non-breakable="null" href="https://cointelegraph.com/magazine/can-you-trust-crypto-exchanges-after-the-collapse-of-ftx/" rel="null" target="null" text="null" title="null">Can you trust crypto exchanges after the collapse of FTX?</a>
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Arca, Blocktower to merge into unified crypto platform

Cointelegraph

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