GSR acquires crypto advisory firms in $57 million expansion

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 ​existingbrand within GSR, while Architech will form the foundation ofGSR Digital Asset Advisory. * ​Through the acquisitions, GSR will ‌offer strategictreasury and capital markets guidance, including treasurymanagement, capital allocation strategy and cash ⁠flowforecasting, the company said. * "By plugging in these two businesses, our goal is toprovide that full service from ⁠end to end, so you can literallygo from two guys ​with a token idea, and we can then help youthroughout that whole life cycle," Riezman said. * Bitcoin and ‌other cryptocurrencies have shrugged offMiddle East tensions and rising oil prices. Bitcoin is ‌up morethan 23% since it briefly touched $60,000 in ⁠early February; ithas ‌still lost more ​than one-third of its value in the last sixmonths.

(Reporting by Hannah Lang in New ‌York)

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