GSR acquires crypto advisory firms in $57 million expansion

By Hannah Lang

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 existing brand within GSR, while Architech will form the foundation of GSR Digital Asset Advisory.

• Through the acquisitions, GSR will offer strategic treasury and capital markets guidance, including treasury management, capital allocation strategy and cash flow forecasting, the company said.

• "By plugging in these two businesses, our goal is to provide that full service from end to end, so you can literally go from two guys with a token idea, and we can then help you throughout that whole life cycle," Riezman said.

• Bitcoin and other cryptocurrencies have shrugged off Middle East tensions and rising oil prices. Bitcoin is up more than 23% since it briefly touched $60,000 in early February; it has still lost more than one-third of its value in the last six months.