Tech
Crypto Firm VersiFi, Led by Former Genesis Executive, Acquires Benzinga’s Trading Tech Startup Ather Digital
Benzinga – VersiFi, a cryptocurrency trading and lending firm led by a former Genesis executive, has acquired Ather Digital, a cryptocurrency trading technology startup, for an undisclosed sum. The deal will help VersiFi add direct market access, algorithmic trading and intelligent order routing to its platform, the company said Thursday. Terms of the deal were not disclosed, but VersiFi founder and co-CEO Sameer Shalaby told The Block that it was an “all-stock” deal in which all Ather Digital shareholders received shares by VersiFi. One of these shareholders is Manifold Capital Partners, a quantitative investment firm from which Ather Digital was born in 2022. Manifold and other high-frequency trading hedge funds developed Ather’s technology to meet their cryptocurrency trading needs. Manifold and other Ather investors have now become “minority” shareholders in VersiFi.
Read the full story on The Block.