Alameda Research Invests $20 Million In REEF Finance: Report

Alameda Research invests $20 million in REEF finance by purchasing REEF tokens and it now became a major stakeholder in the ecosystem so let’s read more in today’s cryptocurrency news.

Alameda Research was founded back in 2017 and it is one of the leading research and trading companies in the crypto space and is now announced to invest $20 million in the cross-chain Defi system REEF Finance.

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🔸Alameda invests $20 Million into REEF Finance
🔸Monthly Update
🔸New Rangers Recruitment
🔸Partnership with @ElrondNetwork
🔸AMA with @harmonyprotocol

Stay tuned for an exciting week planned ahead!

— Reef Finance (@ReefDeFi) March 13, 2021

Alameda research invests $20 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. 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. Speaking of the matter, Denko Mancheski, the CEO at REEF Finance said:

“As our company expands into the next stage of growth, I am delighted to welcome Alameda Research to the Reef Finance budding ecosystem. We’re excited to incorporate this investment to further our trajectory and for the develompent of the Reef chain for DeFi applications of the future.”

On the other hand, with the latest investment, Alameda Research depends its involvement with cross-chain liquidity in the industry and it will allow it to implement more integrations with Raydium and Serum on the Solana network. it’s also worth noting that REEF is the first cross-chain Defi operating system which is built on Polkadot

As recently reported, The software innovation company Union raised $3.9 million from Alameda Research and a few other companies in order to minimize Defi-related risks. The decentralized platform that is aimed at lowering risks, costs, and access to DeFi, said that Union raised almost $4 million from a few well-known industry giants. The project plans to utilize the funds to develop and launch a set of new tools that will reduce the DeFi risk levels. In a press release, the Defi platform announced that it had raised the funds from popular names like Spark Digital Capital, Alameda Research, Solidity ventures, 3 Commas, Black Edge Capital, Alpha Chain, and Cluster Capital. Union’s project lead Michael Beck, commented on the fundraising saying that the company is amazed by the incredible support that it received from such notable names.