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The trading firm, Alameda Research has invested $2 million in Israel-based algorithmic crypto market maker, Efficient Frontier. The funding amount will be used to expand Efficient Frontier’s balance sheet and build its dominance in the crypto industry, as per the announcement.
Alameda Research Invests $2 Million in Efficient Frontier
Efficient Frontier is a leading crypto algorithmic trading company and liquidity provider that trades over $1 billion per week. The firm is backed by venture capital firms Collider Ventures and Follow The Seed.
Since its launch three years ago, Efficient Frontier has provided liquidity to dozens of crypto exchanges, including both centralized and decentralized platforms.
Commenting on receiving the latest funding amount, Efficient Frontier chief executive, Roei Levav, said:
“This funding, coming from such a strong team, is humbling and will help us to further improve our value proposition to our partners.”
Levav also noted that Efficient Frontier’s trading volume has grown by hundreds of percent during 2020, saying “Last year has been very important for both the industry and our growth.”
The crypto market maker claims to have supplied liquidity for more than 1,000 pairings in both spot and derivative markets. It’s soon approaching a $10 billion in monthly volume across 50 different exchanges.
Alameda Brings Expertise from Wall Street and Silicon Valley Into Crypto Market
Alameda Research is a quantitative trading firm bringing expertise from Wall Street and Silicon Valley to provide liquidity in crypto markets worldwide. The firm has been on a roll recently with serial investments in crypto-based projects.
Earlier this week, Polkadot-based Reef Finance announced that Alameda Research made a $20 million investment by purchasing REEF tokens.
Alameda’s co-founder and CEO, Sam Bankman-Fried, said on investing into Efficient Frontier, saying:
“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.”
Just last week, Alameda acquired a $35 million stake in the Fantom ecosystem through the purchase of the platform’s native FTM token.
Meanwhile, last month, Alameda Research announced investing $40 million into DeFi protocol Oxygen, a Solana-based lending platform that will be integrated onto travel app Maps.me.