• Latest
FTX Owner Alameda Invests 7-Figure Sum Into Rival Quant Trading Firm

FTX Owner Alameda Invests 7-Figure Sum Into Rival Quant Trading Firm

March 3, 2020
ygg sea surpasses 10,000 scholarships in just six months of launch

YGG SEA Surpasses 10,000 Scholarships in Just Six Months of Launch

May 6, 2022
mintable launches industry changing gas free minting service on ethereum

Mintable Launches Industry Changing Gas Free Minting Service on Ethereum

May 1, 2022
5 projects enabling smart contract development on bitcoin

5 Projects Enabling Smart Contract Development on Bitcoin

April 29, 2022
bitcoin atm installed in mexico's senate building

Bitcoin ATM installed in Mexico’s Senate Building

April 27, 2022
cross chain services play a crucial role in facilitating continued adoption of defi applications

Cross-Chain Services Play a Crucial Role in Facilitating Continued Adoption of DeFi Applications

April 26, 2022
justin sun launches usdd, integrating the blockchain world and the real world with the decentralized stablecoin

Justin Sun Launches USDD, Integrating the Blockchain World and the Real World with the Decentralized Stablecoin

April 25, 2022
nfts: the next musical revolution

NFTs: The Next Musical Revolution

April 24, 2022
things you should know before investing in nfts

Things You Should Know Before Investing in NFTs

April 24, 2022
what are wrapped tokens?

What Are Wrapped Tokens?

April 23, 2022
what is the future of ethereum (eth)?

What is the future of Ethereum (ETH)?

April 22, 2022
green gaming

Everything You Need to Know About Play-to-Earn on Algorand in 2022

April 21, 2022
$ape going bananas as rumors of upcoming land sale of bayc metaverse gather momentum

$APE Going Bananas As Rumors of Upcoming Land Sale of BAYC Metaverse Gather Momentum

April 21, 2022
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
CoinNewsDaily
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
No Result
View All Result
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
No Result
View All Result
CoinNewsDaily
No Result
View All Result
Home Ethereum

FTX Owner Alameda Invests 7-Figure Sum Into Rival Quant Trading Firm

coinnewsdaily by coinnewsdaily
March 3, 2020
in Ethereum
0
FTX Owner Alameda Invests 7-Figure Sum Into Rival Quant Trading Firm
190
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

Related articles

5 projects enabling smart contract development on bitcoin

5 Projects Enabling Smart Contract Development on Bitcoin

April 29, 2022
things you should know before investing in nfts

Things You Should Know Before Investing in NFTs

April 24, 2022

Alameda Research, the owner of the Binance-backed derivatives exchange FTX, has invested more than $1 million into crypto quant trading firm Folkvang – which is one of Alameda’s competitors.

Alameda confirmed Monday it had made a seven-figure investment into Folkvang, a new quant trading and liquidity provider based in Hong Kong. The first from an external party, the placement will build out Folkvang’s existing offer as well as expand its presence globally, according to a press release. The exact size of the investment was not disclosed.

Although Alameda runs its own OTC desk and the FTX exchange, it is still primarily a crypto quant trading firm – relying on computer and algorithmic-based trading strategies – and therefore counts Folkvang as one of its main rivals.

“It is kind of a strange situation, for sure,” said Folkvang founder and CEO Mike van Rossum. A completely passive investment, Folkvang has even placed restrictions on Alameda in order to prevent it from gaining any unfair trading advantages.

Although van Rossum had been algorithmically trading cryptocurrencies since 2013, Folkvang itself was only officially incorporated in January. The company specializes in cryptocurrency derivatives and is already active on BitMEX, the derivatives platforms for Binance, OKEx and Huobi, as well as FTX exchange.

Describing derivatives as the “fastest-growing space in crypto,” van Rossum said the Alameda placement will improve their trade capital. Resources will also be available for new trading technologies as well as expansions onto new platforms.

Launching in May 2019, FTX offers futures, perpetual, and options contracts on 30 different digital assets. Binance acquired a minority stake just before Christmas. In February, FTX opened a public sale for tokenized equity that would take its overall valuation up to a billion dollars. The sale is expected to finish March 7.

Alameda was reportedly impressed by the speed in which Folkvang aggressively captured market share. With daily trading volumes in the hundreds of millions, “they [Alameda] were like: this is interesting, we want a piece of that,” said van Rossum.

In a statement, Alameda CEO and co-founder Sam Bankman-Fried said that van Rossum had been an “early adopter and is a key player on the FTX exchange,” continuing: “He has demonstrated an enviable track record and we’re excited to take part in the next big phase of his trading firm’s expansion.”

An Alameda spokesperson declined to comment on the exact investment figure.

In Norse mythology, Folkvang was the final resting place for warriors who died in combat. “There are a lot of similarities between battlefields and financial markets,” explained van Rossum. “We thought the name was very well-fitting.”

Disclosure Read More

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

Credit: Source link

Tags: Ethereum
Share76Tweet48
Previous Post

US Treasury Department Blacklists 20 Bitcoin Addresses Tied to Alleged North Korean Hackers

Next Post

Binance Lets Turkish Customers Directly Deposit Fiat With Bank Integration

coinnewsdaily

coinnewsdaily

CoinNewsDaily.com is an online Crypto Coin News Website that aims to provide latest trendy news from market and around the world.

Related Posts

5 projects enabling smart contract development on bitcoin
Alt Coin

5 Projects Enabling Smart Contract Development on Bitcoin

April 29, 2022
things you should know before investing in nfts
Alt Coin

Things You Should Know Before Investing in NFTs

April 24, 2022
what are wrapped tokens?
Bitcoin

What Are Wrapped Tokens?

April 23, 2022
what is the future of ethereum (eth)?
Alt Coin

What is the future of Ethereum (ETH)?

April 22, 2022
$ape going bananas as rumors of upcoming land sale of bayc metaverse gather momentum
Alt Coin

$APE Going Bananas As Rumors of Upcoming Land Sale of BAYC Metaverse Gather Momentum

April 21, 2022
btc and eth will break all time highs in 2022 — celsius ceo
Bitcoin

BTC and ETH will break all-time highs in 2022 — Celsius CEO

April 21, 2022
Load More
Next Post
Binance Lets Turkish Customers Directly Deposit Fiat With Bank Integration

Binance Lets Turkish Customers Directly Deposit Fiat With Bank Integration

Categories

  • Alt Coin
  • Bitcoin
  • Business
  • Ethereum
  • ICO
  • Litecoin
  • Mining
  • NFT
  • Ripple
  • Tech
  • Trading

What New here?

  • YGG SEA Surpasses 10,000 Scholarships in Just Six Months of Launch
  • Mintable Launches Industry Changing Gas Free Minting Service on Ethereum
  • 5 Projects Enabling Smart Contract Development on Bitcoin

Subscribe to Get More!

Loading
  • About Us
  • Contact Us
  • Privacy & Policy

© 2018-2021 CoinNewsDaily.com by CoinNewsDaily Inc. Crafted with Love by iFtiDev

No Result
View All Result
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining

© 2018-2021 CoinNewsDaily.com by CoinNewsDaily Inc. Crafted with Love by iFtiDev

  • bitcoinBitcoin(BTC)$19,202.02-1.10%
  • ethereumEthereum(ETH)$1,046.00-0.31%
  • tetherTether(USDT)$1.000.06%
  • binancecoinBNB(BNB)$216.14-1.37%
  • cardanoCardano(ADA)$0.448524-0.56%
  • rippleXRP(XRP)$0.312816-0.39%
  • SolanaSolana(SOL)$32.40-0.88%
  • dogecoinDogecoin(DOGE)$0.0664622.90%
  • polkadotPolkadot(DOT)$6.71-0.79%
  • daiDai(DAI)$1.00-0.03%
  • tronTRON(TRX)$0.064984-0.02%
  • Shiba InuShiba Inu(SHIB)$0.000010-0.26%
  • leo-tokenLEO Token(LEO)$5.75-6.94%
  • matic-networkPolygon(MATIC)$0.455610-2.46%
  • litecoinLitecoin(LTC)$50.94-3.43%
  • FTXFTX(FTT)$24.34-0.24%
  • OKBOKB(OKB)$12.07-0.10%
  • chainlinkChainlink(LINK)$6.06-0.80%
  • CronosCronos(CRO)$0.111475-1.04%
  • stellarStellar(XLM)$0.107347-1.91%
  • cosmosCosmos Hub(ATOM)$8.088.28%
  • moneroMonero(XMR)$117.915.72%
  • algorandAlgorand(ALGO)$0.3032470.18%
  • ethereum-classicEthereum Classic(ETC)$14.51-0.04%
  • bitcoin-cashBitcoin Cash(BCH)$101.460.98%
  • vechainVeChain(VET)$0.0221721.05%
  • tezosTezos(XTZ)$1.425.54%
  • Internet ComputerInternet Computer(ICP)$5.190.75%
  • filecoinFilecoin(FIL)$5.27-0.27%
  • theta-tokenTheta Network(THETA)$1.150.08%
  • ElrondElrond(EGLD)$49.911.76%
  • bitcoin-cash-svBitcoin SV(BSV)$51.61-2.85%
  • eosEOS(EOS)$0.910.29%
  • paxos-standardPax Dollar(USDP)$1.000.03%
  • makerMaker(MKR)$884.141.21%
  • AaveAave(AAVE)$55.941.10%
  • iotaIOTA(MIOTA)$0.2627010.76%
  • huobi-tokenHuobi(HT)$4.34-8.67%
  • zcashZcash(ZEC)$52.51-0.17%
  • basic-attention-tokenBasic Attention(BAT)$0.4068946.21%
  • neoNEO(NEO)$8.16-0.88%
  • zilliqaZilliqa(ZIL)$0.0389273.97%
  • havvenSynthetix Network(SNX)$2.347.41%
  • wavesWaves(WAVES)$5.123.14%
  • dashDash(DASH)$41.180.16%
  • KusamaKusama(KSM)$47.551.83%
  • PancakeSwapPancakeSwap(CAKE)$2.98-1.66%
  • Elrond ERDElrond ERD(ERD)$0.0259290.00%
  • nemNEM(XEM)$0.0382542.16%
  • ethlendAave [OLD](LEND)$4.103.48%
  • CompoundCompound(COMP)$46.090.24%
  • qtumQtum(QTUM)$2.750.96%
  • bitcoin-goldBitcoin Gold(BTG)$15.221.65%
  • omisegoOMG Network(OMG)$1.780.14%
  • golemGolem(GLM)$0.2257410.57%
  • ontologyOntology(ONT)$0.2347396.04%
  • SushiSushi(SUSHI)$0.96-0.11%
  • yearn-financeyearn.finance(YFI)$5,320.361.85%
  • umaUMA(UMA)$2.491.81%
  • digibyteDigiByte(DGB)$0.0090902.42%
  • UniswapUniswap(UNI)$2.4438.80%
Posting....