Alameda Research has invested $2 million in a Tel-Aviv-based market maker to process nearly $10 billion in volume monthly across 50 crypto exchanges.
It has been reported that the funding will be used to “expand its balance sheet” and build its position within the crypto-asset sector.
However, Sam Bankman-Fried’s Alameda Research has invested $2 million in Tel-Aviv-based algorithmic crypto market maker Efficient Frontier.
“This funding, coming from such a strong team, is humbling and will help us to further improve our value proposition to our partners.”
“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.”
Likewise, Efficient Frontier is also backed by venture capital firms Collider Ventures and Follow The Seed.
Since launching in 2017, the market maker has provided liquidity to dozens of crypto exchanges, including both centralized and decentralized platforms.
Efficient Frontier claims to be executing nearly $10 billion worth of trades every month across more than four-dozen crypto asset exchanges. https://t.co/Ub5XQFwUV1 — Cointelegraph (@Cointelegraph) March 15, 2021
Levav noted that Efficient Frontier’s trade volume grew by “hundreds of percent” during 2020, stating:
“Last year has been very important for both the industry and our growth.”
Thus, the company claims to have supplied liquidity for more than 1,000 pairings in both spot and derivatives markets and to be approaching $10 billion in monthly volume across 50 different exchanges.