According to Bloomberg, the asset management division is set to cease operations due to Blockchain
Blockchain Asset Management, launched in April 2022 to attract institutional investors, is suspending operations due to the prolonged crypto winter. This decisi
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Blockchain Asset Management, launched in April 2022 to attract institutional investors, is suspending operations due to the prolonged crypto winter. This decision follows the bankruptcy of Celsius Network and the fall of multiple other prominent crypto firms, which caused asset prices to plummet. Blockchain cited deteriorating macroeconomic conditions and the approaching one-year mark of the crypto winter as the reason for pausing operations. In January, the firm announced it was letting go of 28% of its workforce due to challenges faced by the crypto ecosystem in 2022. There has been no comment from Blockchain in response to CoinDesk's request.
