Almeida Research, a trading company founded by crypto billionaire Sam Bankman-Fried, has invested 35 million to use the stacked cryptocurrency application.

On Thursday, the startup officially announced the successful conclusion of a jointly funded series led by Almeida and Mirana Ventures, a trading partner of Bibit Exchange and Bitdao.

The new fund will help Stacked grow its 40-member team to more than 100 employees by 2022 and continue to grow its stake. Crypto and automated credit products.

According to Brian Lee, a partner at Alameda Research Ventures, Alameda has been investing in Stacked since last year and is now confident in its ability to provide a “unique and easy employment experience for customers”. Stuff ”

“Being able to provide users with firewalls while creating the file, and allowing that user to save money on their favorite purchases, is something that investors desperately need,” he said. He Lee said.

Launched in April 2020, Stacked is a web application that allows users to access trading and investment strategies through fundamentally built storage, which is an example of the key indicators of crypto, funds and other investment funds. The foundation plans to go full on the phone within six months.

According to Joel Birch, co-founder and CEO of Stacked, fixed income (DeFi) piles are the most popular on the platform. At the time of writing, non-volatile hard-to-use (NFT) cryptocurrencies are at a high level, including a mix of large and small coins to gain exposure to the NFT market.

Another CEO, Alan Eschweiler, emphasized the importance of large companies supporting the company. “It is no coincidence that the two major cryptocurrency trades lead this investment cycle. These trades, among others, have been our key partners since day one, welcoming our clients with more specialized tools for investors,” he said.

The news comes as FTX reveals that the Bankman-Fried deal will raise $ 1.5 billion for its global retailer and US FTX.US. The new fund will be valued at $ 32 billion and $ 8 billion by FTX and FTX.US, respectively, the fund said in a statement on Friday.

Source: CoinTelegraph