{"id":79603,"date":"2023-06-01T15:18:07","date_gmt":"2023-06-01T12:18:07","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=79603"},"modified":"2025-09-11T11:59:12","modified_gmt":"2025-09-11T08:59:12","slug":"cowen-to-close-cryptocurrency-division","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/cowen-to-close-cryptocurrency-division\/","title":{"rendered":"Cowen to close cryptocurrency division"},"content":{"rendered":"

The American investment bank Cowen announced the closure of Cowen Digital, its cryptocurrency division, a year after its launch. Bloomberg<\/a> reports.<\/p>\n

\n

\u201cToday will be the last day for the Cowen Digital team. [\u2026] We will continue to pursue this ambition, but we will have to do it somewhere else,\u201d the email to clients and employees says.<\/p>\n<\/blockquote>\n

Cowen launched<\/a> a digital-assets-focused division in March 2022. The service’s clients had access to trading in 16 assets, including Bitcoin, Ethereum, Solana<\/a>, Aave<\/a> and USD Coin<\/a>.<\/p>\n

In the future the bank planned to add support for crypto derivatives, DeFi and NFT<\/a>.<\/p>\n

Cowen became the second financial institution to close its cryptocurrency project in 2023. Earlier, the institutional trading platform TradeBlock, part of the Digital Currency Group, announced<\/a> its cessation of operations.<\/p>\n

The bank cited an unfavorable macroeconomic environment and an uncertain regulatory regime for digital assets in the United States.<\/p>\n

In May 2021, Cowen invested<\/a> $25 million in PolySign, the parent company of Standard Custody. The latter received a cryptocurrency-trust license from the New York State Department of Financial Services.<\/p>\n

In the same month the bank launched a $46 million fund<\/a> for investments in the crypto industry.<\/p>\n","protected":false},"excerpt":{"rendered":"

The American investment bank Cowen announced the closure of Cowen Digital, its cryptocurrency division, a year after its launch.<\/p>\n","protected":false},"author":1,"featured_media":79604,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1229],"class_list":["post-79603","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-banks-and-fintech"],"aioseo_notices":[],"amp_enabled":true,"views":"15","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/79603","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=79603"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/79603\/revisions"}],"predecessor-version":[{"id":79605,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/79603\/revisions\/79605"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/79604"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=79603"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=79603"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=79603"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}