Genesis and LedgerPrime alum raise $28 million for Arbelos, a crypto trading rival to Jane Street [Fortune]
Coinbase Global, Inc. - Class A (COIN)
US:NASDAQ Investor Relations:
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Company Research
Source: Fortune
Poor management and conflicts of interest brought down some of crypto's biggest firms, including the hedge fund Three Arrows Capital and Sam Bankman-Fried's Alameda Research , setting off a domino effect from which the sector is still recovering. Joshua Lim and Shiliang Tang , two crypto veterans, aim to build a new kind of trading platform that can serve the flood of institutional money coming into the sector, while also steering clear of its earlier mistakes. Their company, Arbelos Markets, will provide liquidity on trades to firms like hedge funds and venture capital firms, serving as the counterparty for popular products like options and futures. Arbelos raised a $28 million round led by Dragonfly with participation from FalcolnX, Circle, Paxos, Polygon, and Deribit, Fortune has exclusively learned. “As crypto matures to become a global asset class, it requires sophisticated primary dealers of risk that can sit and intermediate trades,” Lim said in an interview with Fortune .
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News
- The Mooch, Andrew Yang, and crypto's tipping point [Yahoo! Finance]Yahoo! Finance
- Bitcoin Breakout: 2 Top Ranked Stocks for the Next Leg Higher [Yahoo! Finance]Yahoo! Finance
- The Mooch, Andrew Yang, and crypto's tipping point [Fortune]Fortune
- Fund Managers Brace for SEC Rejection of Ether-ETF Applications [Yahoo! Finance]Yahoo! Finance
- Fund Managers Brace for SEC Rejection of Ether-ETF Applications [BNN Bloomberg (Canada)]BNN Bloomberg
COIN
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- 5/2/24 - Beat
COIN
Sec Filings
- 5/17/24 - Form 4
- 5/15/24 - Form 4
- 5/15/24 - Form 4
- COIN's page on the SEC website