Asset

CoinShares acquires Napoleon Asset Management

Digital asset investment firm CoinShares is acquiring Napoleon Asset Management, a premier digital asset manager, CoinShares announced on Monday (July 4).

The purchase follows CoinShares’ acquisition of Napoleon Group in December, as the company seeks to become a more diverse full-service digital asset group with a greater focus on the regulatory framework.

CoinShares has been advocating for the regulation of digital assets, and this includes the AIFM (Alternative Investment Fund Manager) license, which is important to the company’s goals of boosting its status in the field.

The AIFM license will come with a passporting regime, allowing it to provide services throughout the European Union. It will also give CoinShares a way to leverage active investment strategies through algorithmic trading and artificial intelligence (AI).

“After recent events in the digital asset industry, it has never been clearer that strong regulation is necessary for crypto to thrive,” said Jean-Marie Mognetti, CEO of CoinShares. “We are therefore very pleased to have received AMF approval to acquire Napoleon Asset Management. The integration of the company into our group is a further step in the right direction towards investor protection.

“We are proud to be one of the most regulated digital asset investment firms in the industry. Our regulated status in a growing number of jurisdictions is one of CoinShares’ main strengths; this reassures our customers and demonstrates our intention to become the leader in the digital asset sector in Europe. »

In other news, Vauld, a crypto lender backed by both Coinbase and investor Peter Thiel, announced Monday that it has suspended withdrawals, citing the crisis in the digital asset market.

The lender, which had previously offered clients annualized returns of up to 40% for lending their crypto tokens, said clients had withdrawn nearly $200 million from the Vauld platform since mid-June.

Read more: Crypto lender Vauld suspends withdrawals as customers withdraw $200 million

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