Arcana, a portfolio intelligence platform for hedge funds and asset managers, has appointed Rhys Williams as Head of EMEA. Williams joins from Goldman Sachs, where he served as Global Head of Marquee Strategic Client Coverage and EMEA Sales, building the digital platform's relationship management function. With nearly two decades of experience in investment firms and financial institutions, Williams will lead Arcana's European, Middle Eastern, and African operations. He will focus on expanding the client base and building the regional team. Arcana provides portfolio construction, performance attribution, risk management, and AI-powered workflows in a single platform. The company serves more than 300 institutions managing over $20 trillion in assets.

Avail, backed by Founders Fund, has acquired Arcana to enhance multichain scalability. Arcana's XAR token holders can swap for AVAIL at a 4:1 ratio, with phased unlocks. AVAIL is down 7% at $0.012, while XAR is up 3.6% at $0.0031. Arcana's tools will integrate into Avail's stack, and most of Arcana's team will join Avail, expanding the team to over 55. Arcana raised $5.5 million, while Avail has raised $75 million. The acquisition aims to unify multichain infrastructure for crypto adoption.