Investment Bank Cowen Shuts Down Crypto Digital Asset Unit
- TD Bank said in March it had completed acquisition of Cowen
- Shutdown affects at least 11 people, according to email
The boutique investment bank Cowen Inc. is shuttering a digital-asset unit that was launched to offer institutional clients access to cryptocurrency trading.
“Today will be the last day for the team here at Cowen Digital,” according to an email seen by Bloomberg News, which was addressed to clients, friends and colleagues. The note listed at least 10 employees and an intern as part of the group’s team. A Cowen spokesperson declined to comment.