Blockchain.com to Sunset Crypto Asset Management Arm

Blockchain.com said it was suspending operations of its asset management arm 11 months after it first launched, marking another casualty of crypto’s prolonged bear market.

The Cayman-headquartered firm launched its first foray into asset management for institutional clients last year, a week after raising a funding round at a $14 billion valuation.

The subsidiary, which was based in London, applied to be struck off the UK companies register on Monday, according to a filing. Blockchain.com Asset Management, also known as BCAM, had yet to file any annual accounts.

“Blockchain.com Asset Management launched in April 2022, shortly before macroeconomic conditions ...