In 2020, Cowen Digital formed to allow institutional customers of the investment bank Cowen to trade digital assets. The digital arm has been growing steadily in its eight months of existence, despite the onset of crypto winter.
In this episode of The Scoop, Cowen Digital managing director and head Drew Forman explains how the crypto industry can rebuild in the wake of FTX’s meltdown, as well as what it will take to repair trust in the space among institutional investors.
According to Forman, many of Cowen’s institutional clients are “getting the pipes ready” to take part in crypto’s next wave. But regulatory clarity is still needed before large, sophisticated institutions get involved. Forman explains:
“I welcome a set of rules ahead of time that we all look to abide by — and hopefully that allows the big institutional investors with the trillion dollar balance sheets to start allocating to the space.”
The SEC and DOJ are currently examining FTX’s case, and the CFTC chair’s is set to appear before the Senate Agriculture Committee on December 1 to testify on the exchange’s collapse.

Episode 120 of Season 4 of The Scoop was recorded live with The Block's Frank Chaparro, and Drew Forman, Managing Partner and Head of Cowen Digital.
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This episode is brought to you by our sponsors Tron, Ledn
About Tron
Founded in 2013, Huobi Global is one of the largest virtual asset exchanges in the world. Huobi Global serves millions of users across international markets. Since its establishment, Huobi Global has committed to providing first class virtual asset investment services. Huobi Global's robust infrastructure, product innovation and capital strength provides a truly customer-centric and secure trading environment to help our international users to achieve their investment objectives. Please refer to Huobi's official website for more information: huobi.com.
About Ledn
Ledn was founded on the unshakeable conviction that digital assets have the power to democratize access to the global economy. We help you to experience the real life benefits of your Bitcoin without having to sell it. Start a savings account, take out a loan, or double your Bitcoin. For more information visit Ledn.io