Goldman Sachs Group and Coinbase Back One River's Crypto Arm
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One River Digital Asset Management, a cryptocurrency manager focused on institutional investors, has announced the closing of a Series A investment round supported by Coinbase Ventures and Goldman Sachs. Other investors such as Liberty Mutual Insurance and Infinity Investment Partners also participated in the funding, the firm said in a press release.

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Eric Peters, One River Digital CEO, says the investors share the firm's vision that the transition of financial transactions to a digital world "will present vast opportunities."

"Integrating such powerful new technologies into the world of finance will bring about unexpected hurdles and innovative breakthroughs," Peters added.

One River Sees Bitcoin's Volatility Decrease as Price Goes Higher

While the firm has not disclosed the amount of investments, Bloomberg says the cryptocurrency arm of One River raised 41 million at a valuation of $186 million. Earlier in March, the firm hired Jay Clayton, who was in charge of the US Securities and Exchange Commission (SEC). Clayton advises Peters and the whole arm on cryptocurrency initiatives.

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