According to Chinese financial technology agency ChainNews, Alameda Research has expanded its investment portfolio by committing $ 4 million to Coin98 Finance, an emerging decentralized financial platform based in Vietnam.
Coin98 Ventures, the venture capital firm behind Coin98, reportedly operates the largest cryptocurrency fund in Vietnam and is also a major sponsor of the Solana Ecosystem Fund, which has recently raised $ 40 million in strategic investments from major digital currency exchanges.
As noted by ChainNews, Coin98 operates a decentralized exchange and portfolio, with a total transaction volume of $ 20 million in March. The exchange has almost 200,000 users, most of them in Southeast Asia.
Alameda Research is a quantitative investment company that manages over $ 100 million in digital assets. He also operates FTX, one of the largest cross-currency derivatives exchanges, with a trading volume of $ 11.3 billion as of Tuesday.
Alameda is at the center of an investment habit as the company seeks to expand its balance sheet and gain a stronger position in the cryptocurrency sector. In March, Alameda invested $ 2 million in Efficient Frontier, the creator of the Tel Aviv-based algorithmic cryptocurrency market. That same month, Alameda invested $ 20 million in Reef Finance, a DeFi platform on Bolcadot.
The DeFi market reached a huge milestone on Tuesday after closing a $ 100 billion profit. As Cointelegraph reported, TVL was in the DeFi sector for less than $ 21 billion at the beginning of 2021.