Alameda Research, a well-known cryptocurrency trading shop founded by Sam Bankman-Fried who is also the founder of the cryptocurrency derivatives trading platform FTX, has made an investment into the non-custodial cryptocurrency trading platform called 3Commas.
According to an announcement of 3Commas, the retail cryptocurrency trading platform has completed its Series A Funding round successfully. It was able to raise an amount of around $3 million in it. This round was led by Sam Bankman-Fried’s Alameda Research.
3Commas is planning on utilizing this raised investment for strengthening its back-end infrastructure, said Victor Cucos, the company’s Chief Strategy Officer (CSO). “We see a lot of strategic opportunities in the DeFi world. We would love to be able to offer cross-asset functionality: crypto, FTX, etcetera,” he added.
On the successful completion of the Series A funding round, the Chief Executive Officer (CEO) and founder of 3Commas Yuriy Sorokin said that they are pleased that investors have put their confidence into their team. Adding more to it, he said:
“3Commas was built on our fundamental belief in financial inclusion and affordable access to the best trading and risk management technologies for all. This round validates our strategy and lays the groundwork for further expansion, innovation and global reach.”
It is the latest investment thrown into the cryptocurrency market by Alameda Research. The cryptocurrency trading firm has already made investments into several platforms. These include the decentralized finance (DeFi) trading platform Opium, Dune Analytics, and Perpetual Protocol. With this, the firm has once again pushed into a retail crypto platform.
Alameda Research was established in the year 2017 founded by the FTX founder Sam Bankman-Fried. It has progressed really well so far as an amount of over $100 million in derivatives and crypto assets is managed by this cryptocurrency trading company and liquidity provider.
While on the other hand, 3Commas was founded by Yuriy Sorokin. It is registered by the Republic of Estonia. This non-custodial crypto trading platform is very well known for providing retail traders an opportunity to build automated bots for trading digital currencies across major crypto exchanges. It claims to have a user base of 100,000. Moreover, as per its CSO, it witnesses a monthly volume of approximately $4 billion.