Crypto trading firm and liquidity provider GSR is acquiring two digital asset advisory firms in a $57 million deal to become a “one stop shop” crypto capital markets partner, the company said on Tuesday.
The acquisition of the two companies – Autonomous and Architech – will help GSR create a crypto-native “investment bank” that can assist burgeoning crypto startups with fundraising, governance and long-term capital planning, said Josh Riezman, GSR’s chief legal and strategy officer.
Here are some details:
- Autonomous will continue to operate under its existing brand within GSR, while Architech will form the foundation of GSR Digital Asset Advisory.
- Through the acquisitions, GSR will offer strategic treasury and capital markets guidance, including treasury management, capital allocation strategy and cash flow forecasting, the company said.
- “By plugging in these two businesses, our goal is to provide that full service from end to end, so you can literally go from two guys with a token idea, and we can then help you throughout that whole life cycle,” Riezman said.
- Bitcoin and other cryptocurrencies have shrugged off Middle East tensions and rising oil prices. Bitcoin is up more than 23% since it briefly touched $60,000 in early February; it has still lost more than one-third of its value in the last six months.
