Coinbase Acquires One River Digital Asset Management – March 3

📈 30 Second Cryptocurrency Price Summary

Current Bitcoin Price$22,350

Bitcoin price has tumbled around 5% since yesterday, in a quick dump to the low $22,000s.

Top-20 altcoins are also al down over the last 24 hours, as Ether drops 4%, BNB falls 3% and Uniswap is the largest mover with a 6% decline.

Top Stories for March 3, 2022 🔥

👉 Coinbase Acquires One River Digital Asset Management

Coinbase has acquired One River Digital Asset Management, an institutional digital-asset manager registered with the SEC, to expand beyond its core business catering to retail customers.

One River Digital will become Coinbase Asset Management, forming the foundation of Coinbase’s investment advisory service for institutional clients. Coinbase has been seeking to expand beyond its core retail trading business, and institutional investment management forms a part of that strategy.

One River Digital will continue to be run by CEO and Chief Investment Officer Eric Peters.

👉 EU Anti Money Laundering Bill Amendments Target NFTs

Policymakers in European Parliament are negotiating changes to an EU anti-money laundering bill to include NFT platforms, even though they were initially exempted under the Markets in Crypto-Assets regulation.

The proposed AML rules seek to mitigate money laundering and terrorist financing risks associated with NFTs, which were first included in the regulation in September. The amendments will need to pass a vote in two parliamentary committees overseeing negotiations on March 28 before moving forward for a plenary vote and inter-institutional negotiations.

👉 BUSD Market Cap Breaks Below $10B Following Regulatory Issues

The market capitalization of the Binance USD (BUSD) stablecoin has fallen below $10 billion for the first time in almost two years, following regulatory issues and its delisting from Coinbase.

BUSD’s market cap has been on a sharp decline since its all-time high of $23.49 billion in November 2022. The stablecoin is currently in 10th position in terms of market cap across all cryptocurrencies, behind competitors Tether (USDT) and USD Coin (USDC).