Well-known exchange acquires OTC platform, Wall Street executives lead business expansion.

Recently, a well-known Crypto Assets exchange announced the acquisition of one of the industry's renowned OTC Trading service providers. According to the announcement, the OTC business of this exchange will be led and operated by Wall Street veteran Nelson Minier. After the completion of this acquisition, the operating team of the OTC platform will expand to more than 20 people.

According to industry insiders, the acquired OTC platform has been looking for buyers since this summer. The platform reached a nominal trading volume of $24 billion in 2018. In March of this year, the platform's parent company cut about 30 people from its finance department, accounting for around 10% of its total workforce. The company attributed this to the severe regulatory environment in the United States. Its OTC Trading business has also been affected by talent loss, including the departure of former OTC supervisor Ryan Salame.

Previously, the parent company of the acquired OTC platform announced the suspension of its research department and payment application. In early 2018, the company acquired one of the largest digital currency exchanges in the world at a high price of $400 million. However, in October of this year, the exchange was spun off from its parent company and taken over by an Asian company named Polo Digital Assets, Ltd.

These series of changes reflect the profound transformation that the crypto assets industry is undergoing. As the regulatory environment continues to evolve and market competition intensifies, many companies are reassessing their business strategies and seeking more effective operating models. This acquisition may signify a new phase of industry consolidation and showcases the adaptability of some companies when facing challenges.

For Crypto Assets traders and investors, these changes may bring new opportunities and challenges. As the ownership and operation of major platforms change, users may need to closely monitor these developments to ensure their trading activities and asset security are not affected. At the same time, this may also create space for new innovations and service improvements, which could ultimately benefit the entire industry.