{"id":561781,"date":"2023-03-10T00:47:53","date_gmt":"2023-03-09T21:47:53","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/blockchain-com-suspends-its-asset-management-subsidiary-launched-in-april-report\/"},"modified":"2023-03-10T00:47:53","modified_gmt":"2023-03-09T21:47:53","slug":"blockchain-com-suspends-its-asset-management-subsidiary-launched-in-april-report","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/blockchain-com-suspends-its-asset-management-subsidiary-launched-in-april-report\/","title":{"rendered":"# Blockchain.com suspends its asset management subsidiary launched in April: Report"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a36eccec786a\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a36eccec786a\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/blockchain-com-suspends-its-asset-management-subsidiary-launched-in-april-report\/#%E2%80%9D_Blockchaincom_suspends_its_asset_management_subsidiary_launched_in_April_Report_%E2%80%9C\" >&#8221; Blockchain.com suspends its asset management subsidiary launched in April: Report &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Blockchaincom_suspends_its_asset_management_subsidiary_launched_in_April_Report_%E2%80%9C\"><\/span>&#8221; Blockchain.com suspends its asset management subsidiary launched in April: Report &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjMtMDMvMjU3ZjMwODUtMzhjMi00ZmQ5LWI2MGMtNGMwM2ViMGI3MjA5LmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-48054ca8>Cryptocurrency financial services company Blockchain.com will suspend operations of its asset management subsidiary, according to a Bloomberg report <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-03-09\/blockchain-com-to-wind-down-uk-based-crypto-asset-management-arm-bcam?sref=323RPL5z\">published<\/a> March 9. The service had existed less than a year and <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ears to be the latest casualty of the crypto winter.<\/p>\n<p>The subsidiary, known as Blockchain.com Asset Management, is based in London. It <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/find-and-update.company-information.service.gov.uk\/company\/13374370\/filing-history\">applied<\/a> to be removed from the United Kingdom companies register on March 5. The application itself is <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/s3.eu-west-2.amazonaws.com\/document-api-images-live.ch.gov.uk\/docs\/oys-O-FKPMr5d1HvXPYoVQ1nkCbyusy7UHnBCHJ5cVM\/application-pdf?X-Amz-Algorithm=AWS4-HMAC-SHA256&amp;X-Amz-Credential=ASIAWRGBDBV3MH7CFG52%2F20230309%2Feu-west-2%2Fs3%2Faws4_request&amp;X-Amz-Date=20230309T191449Z&amp;X-Amz-Expires=60&amp;X-Amz-Security-Token=IQoJb3JpZ2luX2VjEKj%2F%2F%2F%2F%2F%2F%2F%2F%2F%2FwEaCWV1LXdlc3QtMiJGMEQCIBXzcZOkb4yKF2StzESuoF78i2xuwXtIEZUZ2eWMK6GrAiBMgF8CygrqU6Z0xp1z%2BIgWSTvrkppbJlug5Ir6Nh39Qiq7BQhhEAQaDDQ0OTIyOTAzMjgyMiIMGfYd4NkBh13htVkWKpgFhLYLsJseF97jCPUVEAkscsOpmhjmJDUc8vtdYhywAzZaX1EgViNYPxoDt1OqYWL7AdTipzPAUAOMe3OiALBhQ6eylOnaoyw9wZKchT4tiL6bqsjQAh8GrlnRf%2FmOZr2q3OtXF39httBJMcGIICIu7oK6cBs%2BOt2dbRxfhfEZiHOCC5UL418TaJqYEYADZ36R1Mtf2jTVsDaFequ5Q2ePT7Ndjix5iqcMgC70MjVlBzAVU%2BDJAtVK5Iz%2BGLroGaUA%2FeKcc26Ktw4PgvWtcOCL7SHqlyWGKWk5VezRFvugKDYJpfv6TxjRuv4xa9PIic0xqgaFgcVFvSde0SQYHfC26fXU%2BIey%2FcQKgyi01PcmYowmtCRq%2FttxjwV9u7YkxQsBoBbwpRenkwUR2EGFZrJj61A%2BAFgF%2FWe82m48useNee7KcYM393JcnJ0bgNG53G%2B4rqS6P1kyH%2FLpV%2BIFF9BVUakkY8zOIYNQYiAS4UeTCKt1UwUwenS6BQ8l2434Z%2BChEK4G1Dmx1ej6QqQGoVkpj%2FBlHud7ts1nIAjfEpRbeRr2VL5WEmXYOZr%2B0Vcsu%2BTZNVCFlQ85xlnaIZZMPIe4eXUzXLuG5bWUBiwGLJOYTkkXh17GyZ8GNZiiFwL43B9dD0w4gC2KNzn7fNkFEF5g3q7UjElfWXl%2BgU9xWyT1LgLiXAtJmha28UqpU%2FUjIw4dUXVtUYbfsSgoY8jN%2B%2FHpK5nmtB6xQs%2FfbHeq9Ypvaef3maggBgEGG4tnbJ2jEJxANeEXd3MVJEvADRdjdULNXYYl4qE%2BR%2F%2FrrPkD%2F1ywr37AtmZPQfhOciJV5rsJcnTVIKZXaA7Zdm9SHpWLzMKcWNHpri8hEZWOx1Jb6IHRQv%2F3a%2BEaW0NRJzDA%2B6egBjqyAQe9gWVS%2FJm%2BIXOihdMFjbJUpvayK8xtdoV1kHjKh4VQqJas%2F9loHqeUqS5xh2B9b%2BUkgFJofWxmKzI0HMDZBE5h2dMukK16WBfgGKyfnrLzALoeoVOkKq%2BjzhJMaW9e%2BnMWDajDsdKCVdCLdzHlCKXABy92aL%2F8JvTHBHG5nmBN2xsNWg2NAiEhznsEqDd%2FYTb8Wx5lHiXehsmxqRpkIQiAJTEwaPKCRnDwWRYEBznDarQ%3D&amp;X-Amz-SignedHeaders=host&amp;response-content-disposition=inline%3Bfilename%3D%22companies_house_document.pdf%22&amp;X-Amz-Signature=5e459d3c8e06d0c1934d2cbd27f6897252193c8c1b844f743470c101c7c9157b\">dated<\/a> Feb. 15. The company had not yet filed its first annual account. <\/p>\n<p>Blockchain.com Asset Management was opened last April\u00a0in partnership with Altis Partners, which was to manage its portfolios using Blockchain.com <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">technology<\/a>. It <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/medium.com\/blockchain\/blockchain-com-and-altis-partners-launch-asset-management-platform-bcam-671ef5d7179f\">promised<\/a> to offer \u201cregulated crypto investment products for institutional investors, family offices and high net worth individuals.\u201d <\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">scoop: <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/blockchain?ref_src=twsrc%5Etfw\">@blockchain<\/a> 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 $14bn size <\/p>\n<p>on Terminal now, web soon  <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/PhaKP0a6mk\">pic.twitter.com\/PhaKP0a6mk<\/a><\/p>\n<p>\u2014 Emily Nicolle (@emilyjnicolle) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/emilyjnicolle\/status\/1633892521024577538?ref_src=twsrc%5Etfw\">March 9, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>Blockchain.com, which was founded in  2011, opened the new subsidiary just after a funding round that\u00a0raised its valuation from $5.2 billion to $14 billion. Standard Custody &amp; Trust Company was named the custody partner for the new subsidiary also in April.\u00a0A spokesperson told Bloomberg:<\/p>\n<blockquote><p>\u201cBlockchain.com Asset Management launched in April 2022, shortly before macroeconomic conditions deteriorated rapidly. With crypto winter now approaching the one year mark, we made the business decision to pause operating this institutional product.\u201d <\/p><\/blockquote>\n<p>Blockchain.com did not im<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">media<\/a>tely respond to a Cointelegraph enquiry.<\/p>\n<p><strong><em>Related: Crypto firms cut nearly 3,000 jobs in January despite Bitcoin\u2019s rise<\/em><\/strong><\/p>\n<p>Blockchain.com saw several landmarks during the crypto winter. It received registration in several countries in the course of 2022. It also entered into a custody agreement with Anchorage Bank along with other trading platforms in June, and partnered with Visa to issue a crypto card in the United States in October. <\/p>\n<p>Nonetheless, according to Bloomberg, the company laid off 260 employees in 2023. In February, rumors emerged that it was in talks with other crypto firms about selling some of its assets or subsidiaries. A Blockchain.com spokesperson denied those rumors to Cointelegraph. <\/p>\n<p><template data-name=\"subscription_form\" data-type=\"crypto_biz\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/blockchain-com-suspends-its-asset-management-subsidiary-launched-in-april-report\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Blockchain.com suspends its asset management subsidiary launched in April: Report &#8220; Cryptocurrency financial services company Blockchain.com will suspend operations of its asset management subsidiary, according to a Bloomberg report published March 9. The service had existed less than a year and appears to be the latest casualty of the crypto winter. The subsidiary, known&#8230;<\/p>\n","protected":false},"author":1,"featured_media":561782,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/cdn-cgi\/image\/format=auto,onerror=redirect,quality=90,width=1200\/https:\/\/s3.cointelegraph.com\/uploads\/2023-03\/257f3085-38c2-4fd9-b60c-4c03eb0b7209.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[86524,74863,117],"class_list":["post-561781","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-asset-management","tag-cryptocurrencies","tag-business"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/561781","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=561781"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/561781\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/561782"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=561781"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=561781"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=561781"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}