$500 billion asset manager Apollo launches Bitcoin custody for institutional clients
Apollo Global Management Inc., with $515 billion of assets under management, has begun storing crypto on behalf of its clients via a relationship with the digital asset platform Anchorage Digital. After that, Apollo became involved in Anchorage’s Series D fundraising round, which concluded in December 2021.
Interestingly, the decision comes amid a challenging year for the crypto sector, with Bitcoin (BTC), the flagship digital asset, down more than 50% since the beginning of 2022, as investors have grown increasingly concerned about macroeconomic conditions such as rising inflation, interest hikes, and foreign exchange rates, Reuters reported on October 31. Apollo, which neglected to reveal the sorts of crypto assets it owns.
https://t.me/bitcoin_day
