Alameda Research Invests $2 Million in Efficient Frontier

0

 446 total views

[Blockchain Today Reporter Jieun Lee] Cointelegraph reported that Alameda Research has invested $2 million in Tel Aviv-based cryptocurrency market maker Efficient Frontier.

On the 15th (local time), Efficient Frontier announced that the funding will be used to’expand the balance sheet’ and build a position in the cryptocurrency asset sector.

“This funding from a strong team is very small, and it will help us improve the value proposition for our partners,” said Efficent Frontier CEO Loei Revab.

Sam Bankman Pride, co-founder and CEO of Alameda, said, “Effective Frontier is one of the most advanced trading companies in our field. We have been working together from the very beginning, and with their team, technology, and prospects shown, we will be delighted to join. I could have it.”

Efficient Frontier is supported by venture capital firms Collider Ventures and Follow The Seed.

Since its launch in 2017, the market maker has been providing liquidity to dozens of cryptocurrency exchanges, including both centralized and decentralized platforms. “Last year was a very important year for the industry and for our growth,” he said.

The company has been supplying more than 1,000 pairs of liquidity in both the spot and derivatives markets, claiming to be close to $10 billion per month across 50 exchanges.

Last month, Alameda Research announced that it had invested $40 million in DeFi protocol Oxygen, a Solana-based lending platform that will be integrated into the traveler’s app Maps.me. Alameda also invested $50 million in MapsMe in January, allowing decentralized financial information to be provided to 140 million users.

[email protected]