Blockchain.com is shutting down its crypto asset management arm in London, less than a year after launching. Blockchain.com Asset Management (BCAM) was launched in April of last year, but persistent market obstacles such as price volatility, legal difficulties, regulatory scrutiny, and exposure to failing businesses have impacted the crypto industry as a whole, and BCH was not exempt. BCAM intended to offer risk-managed exposure to Bitcoin and managed exposure to tokens in DeFi. The closure came shortly after the firm raised funds at a $14 billion valuation, up from $5.2 billion in the previous year. Despite this, a new funding raise in October reportedly put the firm’s value at between $3 billion and $4 billion.
