Nasdaq-listed cryptocurrency
exchange Coinbase is reportedly in the process of acquiring asset management
firm Osprey Funds. The talks are said to be at a high level and informal at
this stage.
Coinbase has enough funds for
an acquisition after its public listing in April and the announcement of a
$1.25 billion offering of convertible notes. The exchange has been making
acquisitions over the last few years, buying companies such as crypto prime
broker Tagomi, infrastructure shop Bison Trails, and data platform Skew.
Osprey is known for its bitcoin
fund, and for launching a fund specializing in Polkadot. Coinbase is the
custodian for Osprey’s DOT fund. Asset management would be a new business for
Coinbase to be in.
