{"id":70771,"date":"2022-11-30T12:23:46","date_gmt":"2022-11-30T10:23:46","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=70771"},"modified":"2025-09-08T04:10:05","modified_gmt":"2025-09-08T01:10:05","slug":"crosstower-to-acquire-institutional-broker-bequant","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/crosstower-to-acquire-institutional-broker-bequant\/","title":{"rendered":"CrossTower to acquire institutional broker Bequant"},"content":{"rendered":"<p>The cryptocurrency exchange CrossTower <a href=\"https:\/\/www.prnewswire.com\/news-releases\/crosstower-to-acquire-bequant-and-launches-the-industry-first-esg-crypto-fund-301687937.html\">agreed<\/a> to acquire the institutional prime broker Bequant. The acquisition will be financed with the support of Lydian Group.<\/p>\n<p>According to the press release, the deal will give CrossTower access to more than 600 institutional clients across the United States, Europe, Asia and Latin America. Their combined annual trading volume exceeds $400 billion.<\/p>\n<p>According to the exchange&#8217;s CEO Kapil Rathi, the agreement is aimed at restoring trust in the sector, which has been eroded by recent events surrounding FTX.<\/p>\n<p>On November 24, a senior executive<a href=\"https:\/\/u1f987.com\/en\/news\/crosstower-to-consider-creating-an-industry-recovery-fund\"> stated<\/a> the possibility of creating a vehicle to acquire promising firms. He explained that the target is a client base, a solid balance sheet and a track record of organic growth.<\/p>\n<p>Prior to that, the firm refiled its bid to participate in the auction of the assets<a href=\"https:\/\/u1f987.com\/en\/news\/voyager-digital-files-for-chapter-11-bankruptcy\"> of the insolvent<\/a> Voyager Digital creditor. CrossTower&#8217;s competitors will be<a href=\"https:\/\/u1f987.com\/en\/news\/binance-us-to-bid-in-auction-for-voyager-assets\"> Wave Financial<\/a> and<a href=\"https:\/\/u1f987.com\/en\/news\/changpeng-zhao-did-not-rule-out-the-possibility-of-acquiring-ftx-assets\"> Binance.US<\/a>.<\/p>\n<p>The cryptocurrency exchange also announced the launch of an ESG fund aimed at investing in companies with a mission of \u201cdemocratizing finance.\u201d<\/p>\n<p>In November,<a href=\"https:\/\/u1f987.com\/en\/news\/binance-to-launch-fund-to-aid-industry-recovery\"> Binance<\/a>, Bitget and<a href=\"https:\/\/u1f987.com\/en\/news\/okx-to-establish-a-100-million-fund-to-support-projects-affected-by-the-ftx-collapse\"> OKX<\/a> independently launched recovery funds to support FTX-affected companies and avoid a cascading effect.<\/p>\n<p>Earlier, Binance CEO Changpeng Zhao<a href=\"https:\/\/u1f987.com\/en\/news\/changpeng-zhao-did-not-rule-out-the-possibility-of-acquiring-ftx-assets\"> allowed<\/a> the exchange to acquire the assets of Sam Bankman-Fried\u2019s exchange.<\/p>\n<p>Follow ForkLog&#8217;s bitcoin news on our <a href=\"\/\/telegram.me\/forklog\u201d\" target=\"\u201c_blank\u201d\" rel=\"\u201cnofollow\u201d noopener\">Telegram<\/a> \u2014 cryptocurrency news, rates and analytics.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The cryptocurrency exchange CrossTower has agreed to acquire the institutional prime broker Bequant. The acquisition will be financed with the support of Lydian Group.<\/p>\n","protected":false},"author":1,"featured_media":70772,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"CrossTower to acquire Bequant with backing from Lydian Group.","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1166],"class_list":["post-70771","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-centralized-exchanges-cex"],"aioseo_notices":[],"amp_enabled":true,"views":"11","promo_type":"1","layout_type":"1","short_excerpt":"CrossTower to acquire Bequant with backing from Lydian Group.","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/70771","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=70771"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/70771\/revisions"}],"predecessor-version":[{"id":70773,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/70771\/revisions\/70773"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/70772"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=70771"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=70771"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=70771"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}