Alameda Research makes another $2 million investment, now in a Tel-Aviv-based market dubbed Efficient Frontier that processes nearly $10 billion in volume per month on 50 exchanges so let’s read more in our latest cryptocurrency news today.
The news was announced by the platform itself on March 15 with the company stating that the funding will be used to expand the balance sheet and will build its position in the crypto asset sector while chief executive of Efficient Frontier Roei Levav stated:
“This funding, coming from such a strong team, is humbling and will help us to further improve our value proposition to our partners.”
Alameda Research’s co-founder Sam Bankman Fried said on the investment:
“Efficient Frontier is one of the most advanced trading companies in our space. We have been working together since the early days and their team, technology, and outlook on the industry is what made us so excited to join their ride.”
Alameda Research makes another investment in the Tel-Aviv based Efficient Frontier which is also backed by venture capital firms Follow the Seed and Collider Ventures. Since the launch of 2017, the market maker provided liquidity to dozens of exchanges including both decentralized and centralized platforms. Levav noted that Efficient Frontier’s trade volume increased by hundreds of percent in 2020 saying that: “Last year has been very important for both the industry and our growth.”
The company claims to have supplied liquidity for more than 1000 pairings in both spot and derivative markets and is approaching a $10 billion monthly volume mark on 50 exchanges. Last month, Alameda Research made another investment of $40 million into the DeFi protocol Oxygen which is a Solana-based platform that is integrated on the travel app Maps.me. Alameda invested in Maps.me $50 million back in January with the travel app promising to bring decentralized finance to $140 million users.
Also as recently reported, Alameda Research invests $20 million in REEF finance by purchasing REEF tokens and it now became a major stakeholder in the ecosystem. Alameda research invests million in Reef and according to the press release, the investment was done by purchasing REEF tokens making it a major stakeholder in the ecosystem.
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This will also see the formation of strategic cooperation that will open the doors for another protocol to engage in further partnerships with Alameda in the near future.
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