Blockchain.com “Asset Management Arm” Decision
Blockchain.com has made a new decision on its asset management arm, which it recently launched.
New decisions on crypto operations continue to be announced from the crypto financial services company Blockchain.com. Blockchain.com, a financial services company operating in the crypto space, is suspending the activities of its asset management division, which it recently launched, Bloomberg reported. Blockchain.com cited the reason for this move as the prolonged crypto winter.
Blockchain.com’s Asset Management Division, or BCAM, was launched in April 2022 to attract institutional investors. After this decision, many crypto companies started to have a hard time with the values of crypto assets that started to fall rapidly after the bankruptcy of crypto lender Celsius Network. The following statements were used in the statement made by a Blockchain.com spokesperson:
“The Blockchain.com Asset Management Department began operations in April 2022, shortly before its macroeconomic conditions deteriorated rapidly. With the crypto winter going on longer than expected, we have made the decision to discontinue our idea of running this institutional product.”
Leave a ReplyWant to join the discussion?
Feel free to contribute!