Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesCopyBotsEarn
Crypto investment firms Arca and BlockTower agree to merger

Crypto investment firms Arca and BlockTower agree to merger

The BlockThe Block2024/11/12 16:00
By:The Block

Quick Take The firms signed a Letter of Intent to pen an all-equity deal. Both the business units of the companies will transition into a unified brand, though BlockTower Venture Capital will stay independent.

Crypto investment firms Arca and BlockTower agree to merger image 0

The digital asset financial institution Arca and crypto investment firm BlockTower Capital intend to merge. 

The firms signed a letter of intent for an all-equity deal, according to a joint company released Wednesday . While their respective business units will transition into a unified brand, BlockTower Venture Capital will stay independent. 

Arca Co-Founder and Chief Investment Officer Jeff Dorman noted that new investment vehicles are expected to emerge following the consolidation, the release continues. 

"Arca is an excellent match for BlockTower because we share similar investment principles, values, and long-term vision for successful asset management in the digital assets space," BlockTower Co-Founder and Chief Investment Officer Ari Paul said in a statement. "Our alignment includes a commitment to operational excellence, a foremost emphasis on our fiduciary role and the duties accompanying it, and setting a high ethical bar in treating all stakeholders."

BlockTower Capital has invested in Aptos Labs , Dapper Labs and Solana, whereas Arca's portfolio includes Mintify and Bitwave , according to venture investment tracker DealRooms. 


0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

BTC breaks through $98,500

Cointime2024/11/22 11:11

Ethereum futures open interest hits new all-time high of over $20 billion, signalling bullish momentum: CryptoQuant

Ethereum futures open interest across all exchanges has hit a new all-time high, according to CryptoQuant data.Positive funding rates and record leverage ratios highlight increased risk-taking, with traders betting on rising Ethereum prices.

The Block2024/11/22 10:33

US dollar index DXY breaks through 108

Cointime2024/11/22 10:00