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United States-based cryptocurrency exchange Coinbase has acquired cryptocurrency-focused hedge fund One River Digital Asset Management, or ORDAM.

In a March 3 blog post, Coinbase said One River Digital will transition to become Coinbase Asset Management, “an independent business and wholly-owned subsidiary” of the crypto exchange. One River Digital is registered as an investment adviser under the U.S. Securities and Exchange Commission, and has previously accepted investments from Coinbase to scale its operations.

“Coinbase and ORDAM share an ethos grounded in prudent risk management, a trait which has enabled both firms to successfully navigate the recent market turmoil,” said Coinbase. “Culturally, our two organizations are strongly aligned on pursuing the opportunity in digital assets with an uncompromising priority on safety and soundness.”

As part of the acquisition, Coinbase said One River Digital’s team would join the crypto exchange and chief executive officers Eric Peters would stay on as leader under the rebranded firm. The exchange suggested “minimal disruption to current business activities” amid the transition.

Related: Coinbase partners with One River to roll out new institutional platform

News of the acquisition followed Coinbase leading the charge in a slew of crypto firms cutting ties with Silvergate amid reports the bank was under investigation from the U.S. Department of Justice over its alleged involvement in the collapse of FTX. The crypto exchange has already announced Signature Bank will take over institutional client cash transactions for its prime customers.