Arca and BlockTower to Combine into One Crypto Platform
Date: 2024-11-14 Author: Gabriel Deangelo Categories: BUSINESS
Arca and BlockTower Capital announced plans to merge into a single digital asset investment platform on November 13. “Investors have long wanted access to regulated offerings in digital assets,” said Arca CEO Rein Steinberg. The combination will provide the companies with the resources and expertise to effectively manage their current products and expand their investments, he added.
Both companies are registered investment advisers in the United States. BlockTower Venture Capital will continue to operate independently. “To remain competitive and attract the best talent, we are combining with Arca to create a stronger investment team,” said BlockTower Chief Investment Officer Ari Paul.
Web3 Mergers Increase as Companies Seek Expanding Opportunities On the same day, Coinbase acquired Utopia Labs to strengthen on-chain payments, with the Utopia team joining the Base network, Coinbase’s second scaling layer. Coinbase noted in a blog post that this will strengthen the ecosystem by attracting developers and users.
In October, Stripe acquired stablecoin platform Bridge for $1.1 billion to support stablecoin payments. In July, DeFi Technologies acquired Stillman Digital, which analysts say will help it become a “smaller version of Galaxy Digital.”
