Cowen's Digital Asset Unit to Offer Spot Crypto Trading

Colin announced the launch of a digital asset unit to offer spot cryptocurrency trading, marking a significant move by a traditional Wall Street bank into the crypto space. They will trade 16 cryptocurrencies, including Bitcoin and Ethereum, and plan to leverage their nimble structure for a first-mover advantage. Cowan aims to expand into DeFi and NFTs, providing institutional access to these markets.

What significant move did Colin announce regarding their digital asset unit?

• They are merging with a tech company.

• They are starting a digital asset unit to offer spot crypto trading.

• They are launching a new stock exchange.

• They are closing their traditional banking services.

Why does Cowen believe they have a first-mover advantage in the crypto space?

• They have exclusive partnerships with all major cryptocurrencies.

• They are a smaller and more nimble bank compared to larger Wall Street banks.

• They have more financial resources than other banks.

• They have a monopoly on crypto trading.

What partnership has Cowen formed to offer custody services for digital assets?

• With a major retail bank.

• With a government agency.

• With PolySign.

• With a tech startup.

What new areas is Cowen planning to offer institutional clients access to?

• Traditional stock markets.

• Commodities trading.

• Real estate investments.

• DeFi and NFTs.

Which department has already approved Cowen's trust license for custody services?

• The Federal Reserve.

• The New York Department of Financial Services.

• The Securities and Exchange Commission.

• The Department of Justice.