The crypto space is full of fascinating characters. Between developers, influencers, and humorous meme-posters, there are only a few whose actions can move markets. The most recent addition to this small list is Sam Bankman-Fried. The MIT graduate has quickly made a name for himself as one of the team leads at Alameda Research and the FTX exchange. Between his Twitter threads and saving the Sushiswap DEX, Sam has quickly established himself as an industry insider with a keen understanding of the crypto markets. It is appropriate that his company Alameda Ventures and others are joining in a seed round for Joel Birch’s Stacked, a transparent bot marketplace and investment strategy automation platform.
Stacked is the crypto investment platform built by Joel and his growing team. Its purpose is to help investors earn passively over time without the need to day-trade constantly. Since its launch in January of 2020, the platform has seen steady growth and an influx of new users.
This new capital raise is $1 million in new equity funding. Partners include the previous pre-seed participant Mediatech LTD, in addition to CoinFund and Alameda Ventures.
CoinFund is a venture investment firm focusing on the blockchain, cryptocurrency, and decentralized ledger technologies. Its team is comprised of industry veterans of finance, traditional banking, and blockchain technology.
The previously mentioned Alameda Ventures is the venture capital arm of Alameda Research. Founded in late 2017, the company currently manages over $100 million in digital assets, with $600 million to $1.5 billion in trades per day. Its FTX exchange is one of the most popular derivative trading platforms on the market and is a driving force behind Serum (SRM).
This is where Sam Bankman-Fried comes back in. As the public face of both Alameda and FTX, his moves carry significant weight. His resurrection of Sushiswap is one of the rare times a third party has come to the rescue of an ailing project, that is heavily documented. His participation in the Stacked capital raise will undoubtedly raise eyebrows and bring more attention to the platform.
“We’re excited about Stacked because they’ve removed the complexity of automating crypto investing & trading. With a beautiful user experience at its core, experienced and new traders alike will have no difficulty deploying strategies from a wide range of algorithms or passively managing funds through the index products.”
Sam Bankman-Fried, CEO @ FTX
To date, Stacked has achieved several significant accomplishments
- Over $2 billion in automated trading volume
- Over 200,000 bitcoins traded through Stacked
- Fast approaching $15 million in connected assets
- Over 50k trades automated
- $1.5mm in value for users, strategy authors, & exchanges
This momentum will likely provide enough steam to carry Stacked forward with its future expansion. A new mobile app, more trading bots, and other improvements are on the company’s horizon. No matter which direction they choose to follow, the benefit will be for the platform users and the thousands of collective hours saved from trying to scalp trading candles.
Website – stackedinvest.com
Twitter – twitter.com/StackedCrypto