The owner of FTX, <a href="https://www.alameda-research.com/" target="_blank" rel="noopener">Alameda Research</a>, on March 02, 2020, has confirmed that it has made an investment of more than $1 million into its rival company Folkvang, crypto quant trading firm.
<h2>Rival Companies Come Together</h2>
According to a report, Alameda has its own OTC desk and the FTX exchange but the crypto quant trading firm, Folkvang, works on algorithmic-based trading strategies, and that is the reason it (Folkvang) is considered to be the main rival of Alameda Research.

While talking about the investment, the founder and CEO of Folkvang, Mike van Rossum, said, “It is kind of a strange situation, for sure”.

The report further suggested that the Folkvang has placed some restrictions on Alameda so that it could not earn any kind of unfair trading advantages. Van Rossum incorporated Folkvang officially for trading cryptocurrencies in January 2020, but Rossum, himself was involved in the crypto trading since the year 2013.
<h2>Folkvang Active On Derivative Platforms</h2>
The Folkvang specializes in cryptocurrency derivative and presently, it has been working on <a href="https://www.cryptoknowmics.com/crypto/bitmex-cold-wallet-holding-hiked-by-100k-btc-amid-cftc-probe/" target="_blank" rel="noopener">BitMEX</a>, Binance’s derivatives platform, OKEx and Huobi and the FTX exchange.

According to van Rossum, derivatives could grow fastly in the crypto space. He also mentioned that the investment made by Alameda Research would help the firm (Folkvang) to improve its trade capital.

In May 2019, FTX was launched to offer options on 30 different digital assets, and just a few days before Christmas, Binance acquired its minority stake. Recently, in February 2020, <a href="https://www.cryptoknowmics.com/crypto/cryptocurrency-derivatives-exchange-firm-ftx-is-selling-its-equity/" target="_blank" rel="noopener">FTX</a> organized a sale for tokenized equity so that it could attain a valuation up to a billion dollars. The report has mentioned that the firm has not announced sale’s ending date but some investors expect it to end by March 07, 2020.

Van Rossum has stated that Alameda was impressed with Folkvang’s growth and that was the reason the firm (Alameda) decided to invest in Folkvang.

Alameda Backs Rival Crypto Trading Firm, Folkvang With 7-Figure Sum

The Alameda Research has confirmed that it has made an investment of more than $1 million into its rival company Folkvang, crypto quant trading firm.

Jyoti is a graduate from GGSIPU and has done her PG Diploma in English Journalism from IIMC. Presently, she is working as a content writer with Agio Support Solution Pvt. Ltd. Her aim is to provide informative content about cryptocurrency and blockchain, to the tech-enthusiasts.

Alameda Backs Rival Crypto Trading Firm, Folkvang With 7-Figure Sum

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