Alameda Research

Alameda Research Invests $4 Million in Vietnamese DeFi Project

Alameda Research

The DeFi Market continues to grow, with Alameda Research classifying Southeast Asia as a potential growth hub. Alameda Research, the leading quantitative crypto trading firm behind the top derivatives exchange FTX, has invested $4 million in Coin98 Finance, an ambitious decentralized finance platform from Vietnam. 

Coin98 Ventures, the venture capital firm behind Coin98, reportedly handles the biggest cryptocurrency fund in Vietnam, moreover it’s also a key backer of the Solana Ecosystem Fund, which in recent times has raised $40 million in strategic investments from multiple leading digital currency exchanges. 

Alameda, impressively trades around $600 million to $1.5 billion per day, as stated on its website, has been actively investing in Defi projects across both Solana and Ethereum blockchain ecosystems.  

This investment from Alameda inhibits confidence that the DeFi Market in Asia has capacity to develop and that the demand for DeFi services would eventually pick up across Asia.


Grayscale includes Chainlink to its Digital Large Cap Fund 

On Tuesday, Grayscale Investments revealed a rebalancing of its large-cap crypto fund, a move that adds Chainlink’s LINK (+7.96%) cryptocurrency to the entity’s list of held digital assets. 

Grayscale reported that it “adjusted the Fund’s portfolio by selling the existing Fund Components in proportion to their respective weightings and using the cash proceeds to purchase Chainlink (LINK) in accordance with the Fund’s construction criteria.”

The native token of Chainlink fills the void left in the fund after the elimination of XRP (+24.61%), the native token of Ripple Labs in the aftermath of the company being sued by the U.S. Securities and Exchange Commission. 

Chainlink is a decentralized oracle network that provides data to smart contracts, serving an information basis for the DeFi ecosystem. LINK, the native token of Chainlink acts as a financial incentive for node operators. 

As disclosed on its website, Grayscale’s Digital Large Cap Fund also encompasses bitcoin, ethereum, bitcoin cash and litecoin. The fun is market cap-weighted and as of April 5th had $538.2 million in assets under management. In accordance with Tuesday’s press release, the fund is constituted of 79.8% BTC.