A Glimpse into the Future of Crypto Trading
In a world where crypto innovations bubble up faster than you can say “Bitcoin”, crypto trading firm Alameda Research, founded by the illustrious Sam Bankman-Fried, is making headlines. They proudly led a $35 million investment in the automated trading platform Stacked, proving that they’re serious about reshaping the retail investor experience.
The Funding Round Rundown
On a fine Thursday full of potential, Stacked announced the successful closure of their Series A funding round, co-run by Alameda Research and Mirana Ventures, the venture arm connected to the Bybit exchange and BitDAO. This financial boost is set to catapult Stacked from a cozy team of 40 to a robust crew of over 100 by the end of 2022. Who says crypto doesn’t create jobs?
What’s the Buzz about Stacked?
Launched in April 2020, Stacked is like the gear-shifting vehicle of crypto investing. It enables users to access vetted trading strategies and investment portfolios through ready-made “stacks” inspired by popular crypto indices and hedge fund strategies. As they plan for a full mobile launch in just six months, the need for accessibility has never been more critical.
Riding the Crypto Waves with Stacked
According to Stacked’s co-founder and CEO, Joel Birch, the hottest commodities on their platform are stacks that feature decentralized finance (DeFi) coins. However, don’t overlook the NFT-based stacks, as they’re reportedly riding high as the top performers, boasting a hodgepodge of large- and small-cap coins.
The Endorsement Effect
Alan Eschweiler, Stacked’s chief revenue officer, emphasizes just how important it is to have backing from heavyweights in the crypto world. He explains, “Having two of the largest exchanges co-lead our investment round isn’t a mere coincidence. They’ve been invaluable partners, helping connect their users with advanced automated investment tools desde el día uno.”
The Bigger Picture
The buzz surrounding these developments doesn’t stop at Stacked. Alameda’s involvement comes amidst whispers that their related crypto exchange FTX is eyeing a staggering $1.5 billion raise to bolster its global derivatives exchange and its U.S. counterpart, FTX.US. Not too shabby for an industry often likened to the Wild West!
Conclusion
In this rapidly evolving crypto landscape, investments like that from Alameda in Stacked are not just business moves; they signify a commitment to making cryptocurrency investments accessible, simplified, and user-friendly. As the sector continues to grow, the world will surely be watching to see how these strategies unfold and influence the retail investing experience.
