A well-known exchange acquires a large OTC Trading platform, business restructuring to cope with regulatory challenges.

Recently, a well-known encryption exchange announced the acquisition of one of the industry's famous OTC Trading platform service providers. According to relevant information, the OTC Trading business of the exchange will be operated by Wall Street veteran Nelson Minier. After the completion of this acquisition, the operating team of the OTC Trading platform will expand to more than 20 people.

According to industry insiders, the acquired OTC Trading platform has been looking for buyers since this summer. The platform's nominal trading volume reached $24 billion in 2018. In March of this year, the company that owns the platform laid off about 30 employees in the finance department, accounting for approximately 10% of the total workforce. The company attributed this move to the harsh regulatory environment in the United States. At the same time, the OTC Trading business is also facing talent loss issues, including the departure of former OTC Trading head Ryan Salame.

It is worth noting that the acquired company recently announced the suspension of its research department and payment application operations. In early 2018, the company spent $400 million to acquire one of the largest digital currency exchanges in the world at that time. However, in October of this year, the exchange announced its spin-off from the original company and was taken over by an Asian company.

This series of changes reflects the dynamic development and adjustment of the encryption industry. As the market environment and regulatory policies change, major platforms continuously optimize their business structures to adapt to new challenges and opportunities. This acquisition may further integrate industry resources and improve the quality and efficiency of OTC Trading services.