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Alameda Research Pumps $75M Funding Into Voyager Digital
The two will work together to tap opportunities in non-fungible tokens and crypto derivatives.
Cryptocurrency broker Voyager Digital has received a $75 million investment from trading firm Alameda Research.
- The investment will be used for growth, Voyager Digital (TSX: VOYG) said Thursday. Shares of the company soared 39% in Toronto.
- Voyager Digital and Alameda plan to tap into opportunities in non-fungible tokens (NFT) and crypto derivatives as well as work together with lawmakers on shaping regulation.
- “Through our strategic partnership, we believe there are endless mutually beneficial opportunities to grow both our businesses,” said Caroline Ellison, the co-CEO of Alameda.
- Alameda Research was launched by crypto billionaire Sam Bankman-Fried who announced Oct. 12 he was taking a step back to make room for co-CEOs Ellison and Sam Trabucco.
- Currently, Alameda Research trades over $5 billion a day across thousands of products including cryptocurrencies, altcoins and their derivatives.
- Voyager Digital will issue some 7.7 million shares to Alameda, giving it a stake of more than 4%.
Read more: Voyager Digital a Step Closer to Operating in EU After French Regulatory Approval
STORY CONTINUES BELOW
UPDATE (OCT. 29, 13:27 UTC): Updates with closing share move in first bullet, adds Alameda stake in final bullet.
Tanzeel Akhtar
Tanzeel Akhtar has contributed to The Wall Street Journal, BBC, Bloomberg, CNBC, Forbes Africa, Financial Times, The Street, Citywire, Investing.com, Euromoney, Yahoo! Finance, Benzinga, Kitco News, African Business Magazine, Hedge Week, Campden Family Office, Modern Investor, Spear's Wealth Management Magazine, Global Investor, ETF.com, ETF Stream, CIO UK, Funds Global Asia, Portfolio Institutional, Interactive Investor, Bitcoin Magazine, CryptoNews.com, Bitcoin.com, The Local, The Next Web, Mining Journal, Money Marketing, Marketing Week and more. Tanzeel trained as a foreign correspondent at the University of Helsinki, Finland and newspaper journalist at the University of Central Lancashire, UK. She holds a BA (Honours) in English Literature from the Manchester Metropolitan University, UK and completed a semester abroad as an ERASMUS student at the National and Kapodistrian University of Athens, Greece. She is NCTJ Qualified - Media Law, Public Administration and passed the Shorthand 100WPM with distinction. She does not currently hold value in any digital currencies or projects.
