Cryptocurrencies
One of the Biggest Crypto Traders Is Tapping DeFi Loans for Funding
- Alameda Research has been taking out loans through TrueFi
- The firm does around $5 billion in daily trading volume
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Alameda Research, the cryptocurrency trading juggernaut founded by Sam Bankman-Fried, is funding a portion of its $5 billion in daily trading activity with money provided by decentralized-finance lenders.
The associated precursor of the cryptocurrency exchange FTX said it will borrow as much as $750 million from the DeFi lending platform TrueFi within a year. Alameda was one of the investors in TrueFi parent TrustToken’s $12.5 million fund-raising round last year. It also borrows from smaller rival Maple Finance.