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The U.S. cryptocurrency trading platform has hired Jeff Horowitz, former global head of compliance at Pershing and previously head of compliance and AML at Goldman, as it continues to look to legitimize the asset class in the eyes of institutional investors and qualm headline risk.
Despite the crypto bear market, Coinbase has been reinvesting its gains in everything from institutional investor products, to acquisitions, including a fully licensed broker-dealer. Risk-averse institutional investors have been especially wary of potential hazards that come with cryptocurrency. Bitcoin has nosedived roughly 50 percent this year after regulatory crackdowns on fundraising frauds, high-profile hacks and a lack of new buyers.
https://www.cnbc.com/2018/07/31/crypto-start-up-coinbase-hires-pershings-head-of-compliance.html
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