US-based company Cambrian Asset Managemen has invested more than $20 million in cryptocurrencies, according to the US Securities and Exchange Commission (SEC). Here are the details…
$ 20 million crypto investment from the US company
According to reports to the U.S. Securities and Exchange Commission (SEC), a crypto-buying company has caught attention. US asset manager Cambrian bought $12,976,664 worth of Ethereum for 41 investors with a minimum investment of $14,000 each. He also bought BTC worth $7.1 million.
Cambrian, which came to the fore with the sale and purchase, has actually been an active company in the field of Bitcoin and altcoins for a while. They are developing an interesting system for their clients’ investment. In recent months, Cambrian’s CEO and CIO, Martin Green, described the company’s risk management system as follows:
Humans are not designed to make big analytical decisions when their brains are filled with cortisol, serotonin, or dopamine. That’s why our systems are designed for risks such as selling together or buying to cover a gap if the market goes against us. So if in a long position, the market moves up to a pre-programmed amount… systems take risks so if the market becomes more extreme, we protect our investors’ capital.
Services for cryptos continue for institutional investors
Meanwhile, crypto moves for institutional investors do not slow down, as we have announced as Kriptokoin.com. Nasdaq (NDAQ), the second-largest exchange operator in the US, is launching a crypto custody service as it aims to receive cash on demand from institutional crypto investors, according to a press release Tuesday.
The company said it has hired Ira Auerbach, who previously ran world-class brokerage services at Gemini, as head of its crypto asset unit. The Nasdaq’s move to crypto follows a broader trend on Wall Street. Last month, the world’s largest asset manager, BlackRock, said it will offer cryptocurrencies to its institutional clients. Depository Trust & Clearing Corp, which handles nearly all US exchange transactions, has launched its own Blockchain.
Nasdaq will compete with BTC and altcoin exchange Coinbase and protection service sAnchorage Digital and BitGo in holding Bitcoin (BTC) and Ethereum (ETH) for US institutional customers. According to a Bloomberg report, Auerbach stated that the Nasdaq is open to working with Bitcoin and altcoin local firms. But he said he has no plans to buy in the short term.
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