GSR acquires crypto advisory firms in $57 million expansion

March 17 (Reuters) – Crypto trading firm and liquidity provider GSR is acquiring two digital asset advisory firms in a $57 million deal to become a “one stop shop” crypto capital markets partner, the company said on Tuesday. 

The acquisition of the two companies – Autonomous and Architech – will help GSR create a crypto-native “investment bank” that can assist burgeoning crypto startups with fundraising, governance and long-term capital planning, said Josh Riezman, GSR’s chief legal and strategy officer. 

Here are some details: 

* Autonomous will continue to operate under its existingbrand within GSR, while Architech will form the foundation ofGSR Digital Asset Advisory. * Through the acquisitions, GSR will offer strategictreasury and capital markets guidance, including treasurymanagement, capital allocation strategy and cash flowforecasting, the company said. * “By plugging in these two businesses, our goal is toprovide that full service from end to end, so you can literallygo from two guys with a token idea, and we can then help youthroughout that whole life cycle,” Riezman said. * Bitcoin and other cryptocurrencies have shrugged offMiddle East tensions and rising oil prices. Bitcoin is up morethan 23% since it briefly touched $60,000 in early February; ithas still lost more than one-third of its value in the last sixmonths. 

(Reporting by Hannah Lang in New York)