HONG KONG--(BUSINESS WIRE)--Crypto-based quant trading firm, Folkvang, announces the approval of a significant investment by Alameda Research. This is the first external investment round Folkvang has accepted, which follows a close relationship built between the two trading firms.
“Through our trading activities, including that on the FTX exchange, Folkvang and Alameda Research forged a strong trade relationship, which laid the foundations for this agreement. On the back of trading billions worth of crypto assets between the firms, we are now ready to take this relationship to the next step,” said Mike van Rossum, CEO and Head of Trading at Folkvang.
Folkvang is looking to quickly grow into one of the leading trading firms in the crypto space. The investment is supporting Folkvang’s strategic focus to rapidly expand to more exchanges and capture greater market opportunities. Folkvang’s robust technology, impressive performance and long-term vision have resulted in this being an attractive investment opportunity.
“Mike was an early adopter and is a key player on the FTX exchange. He has demonstrated an enviable track record and we’re excited to take part in the next big phase of his trading firm’s expansion,” said Sam Bankman-Fried, CEO and Co-Founder of Alameda Research.
Though this creates a bond between the two firms, they will continue to compete in parallel across all crypto markets - trading and operating independently.
Folkvang is a quant trading firm and liquidity provider active in all leading crypto markets; trading all major currencies on all major exchanges with a 24/7 presence.