Crypto investment firms Arca and BlockTower agree to merger
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.
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.
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.
You may also like
BTC breaks through $98,500
UK to Draft Regulatory Framework for Crypto Industry by Early Next Year
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.
US dollar index DXY breaks through 108