Blockchain Investment Firms CoinFund, Alameda Ventures Invest In Stacked

Blockchain Investment Firms CoinFund, Alameda Ventures Invest In Stacked

September 23, 2020

Crypto investing platform Stacked has announced that the company has closed a $1 million seed financing round with investments from Alameda Ventures, CoinFund, and others.

Stacked is a platform that connects to your exchange accounts and allows you to instantly access vetted trading strategies and investment portfolios. The platform makes managing long-term investments as well as using vetted trading bots “first grade easy.” Since its launch in January of this year, Stacked processed over $2 billion in notional trading volume across multiple exchanges automating tens of thousands of trades.

CoinFund is an investment firm that has been backing companies within the blockchain sector since 2015. The CoinFund team has a unique and comprehensive understanding of decentralized finance protocols, blockchain engineering, and asset management.

Alameda Ventures, the investment arm of Alameda Research, is perhaps best known for being one of the most innovative firms to enter the industry in the last few years. Alameda Research is a quantitative trading firm managing over $100mm in assets and trading over $1.5b per day across thousands of investment products. Alameda Research is also one of the core partners of FTX—the fastest growing derivatives and futures exchange in crypto.

“We’re excited about Stacked because they’ve removed the complexity of automating crypto investing & trading,” said Sam Bankman-Fried, CEO of FTX. “With a beautiful user experience at its core, experienced and new traders alike will have no difficulty deploying strategies from a wide range of algorithms or passively managing funds through the index products.”

The latest funding will be used to continue creating the next generation of the Stacked platform. According to Stacked, the goal is to evolve from a transparent trading strategy marketplace to a robust digital asset investment platform for everyone.

“We look forward to building assets on top of some of the world’s best DEX’s, offering managed portfolios from funds, the ability to earn interest through DeFi protocols, and more,” said Joel Birch, Co-Founder and CEO of Stacked.

Source: Read Full Article