Shutters Asset Management Subsidiary Amid Crypto Winter and Industry Turmoil

According to reports and a filing that shows its name struck off the U.K. companies’ register list, is sunsetting its Asset Management subsidiary. A company spokesperson cited deteriorating “macroeconomic conditions” and the “crypto winter” as some of the reasons for halting the institutional business.

The Impact of Crypto Winter on the Cryptocurrency Industry

Over the last two days, it appears that the downward pressure from the crypto winter will continue, as the global crypto market capitalization has slid 6.82% over the last day to $931 miljardit. Lisaks, there has been a contagion of failing crypto firms and bankruptcies across the industry, as well as significant layoffs, with no firm seeming to be spared. Reedel, reports detailed that is halting its London-based subsidiary, Asset Management (BCAM), and market observers noted that the firm has been struck from the U.K. companies’ register list.

A spokesperson for the company spoke with Emily Nicolle, a Bloomberg News correspondent who was the first to report on the news. “Scoop: [] has suspended its asset management arm, moving to shut down the unit exactly 11 months after it launched. In that time, the firm cut hundreds of jobs and saw its valuation potentially slashed to a fraction of its former $14 [miljardit sisse] size,” Nicolle tweeted. Nicolle reached out to, and a spokesperson provided a comment about the BCAM situation.

LOE  Bitcoin’s Average Transfer Fees Experience Sharp Increase: 122% Rise in 10 Päevad

“ Asset Management launched in April 2022, shortly before macroeconomic conditions deteriorated rapidly,” a spokesperson told Nicolle by email. “With the ‘crypto winter’ now approaching the one-year mark, we made the business decision to pause operating this institutional product.” BCAM was formed through a partnership between and Altis Partners. When BCAM was announced, it was meant to attract high-net-worth individuals, institutional investors, and family offices.

Sildid selles loos
Altis Partners, Asset Management, bankruptcies, Plokiahel, Bloomberg News, Business Decision, Company Valuation, contagion, crypto firms, Krüpto talv, Krüptovaluuta, Digitaalsed varad, economic conditions, Family Offices, Finantsturud, Finantsteenused, Global Economy, High-Net-Worth Individuals, Industry Challenges, Industry Impact, Industry Turmoil, institutional investors, Institutional Product, layoffs, Market Capitalization, Market Observer, partnership, regulatory landscape, UK Companies Register

What do you think the future holds for cryptocurrency companies amidst the ongoing challenges faced by the industry, such as the crypto winter and increased regulation? Share your thoughts in the comments section below.

Jamie Redman

Jamie Redman on Newsi uudistejuht ja Floridas elav finantstehnoloogia ajakirjanik.. Redman on sellest ajast alates olnud aktiivne krüptoraha kogukonna liige 2011. Tal on kirg Bitcoini vastu, avatud lähtekoodiga kood, ja detsentraliseeritud rakendused. Alates septembrist 2015, Redman on kirjutanud rohkem kui 6,000 artiklid saidile Uudised täna esile kerkivate häirivate protokollide kohta.

Pildi autorid: Shutterstock, Pixabay, Wiki Commons, T. Schneider /

Vastutusest loobumine: See artikkel on mõeldud ainult informatiivsel eesmärgil. See ei ole otsene pakkumine ega ostu- või müügipakkumise küsimine, või mis tahes toodete soovitust või kinnitust, teenuseid, või ettevõtted. ei paku investeeringuid, maks, seaduslik, või raamatupidamisalane nõustamine. Ettevõte ega autor ei vastuta, otseselt või kaudselt, mis tahes kahju või kaotuse eest, mis on põhjustatud või väidetavalt põhjustatud mis tahes sisu kasutamisest või sellest sõltumisest või sellega seoses, selles artiklis mainitud kaupu või teenuseid.

LOE  Salvadoran President Nayib Bukele Says Citizens Paying for Gas With the Chivo Wallet Will Get a Discount

Lugege lahtiütlemine