Alameda Research Pumps $75M Funding Into Voyager Digital

·1-min read

Cryptocurrency broker Voyager Digital has received a $75 million investment from trading firm Alameda Research.

  • The investment will be used for growth, Voyager Digital (TSX: VOYG) said Thursday. Shares of the company soared 39% in Toronto.

  • Voyager Digital and Alameda plan to tap into opportunities in non-fungible tokens (NFT) and crypto derivatives as well as work together with lawmakers on shaping regulation.

  • “Through our strategic partnership, we believe there are endless mutually beneficial opportunities to grow both our businesses,” said Caroline Ellison, the co-CEO of Alameda.

  • Alameda Research was launched by crypto billionaire Sam Bankman-Fried who announced Oct. 12 he was taking a step back to make room for co-CEOs Ellison and Sam Trabucco.

  • Currently, Alameda Research trades over $5 billion a day across thousands of products including cryptocurrencies, altcoins and their derivatives.

  • Voyager Digital will issue some 7.7 million shares to Alameda, giving it a stake of more than 4%.

Read more: Voyager Digital a Step Closer to Operating in EU After French Regulatory Approval

UPDATE (OCT. 29, 13:27 UTC): Updates with closing share move in first bullet, adds Alameda stake in final bullet.

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