Alameda Research invests M in Reef Finance  By Cointelegraph



Alameda Research invests $20M in Reef Finance

After investing in travel app Maps.me and decentralized finance protocol Oxygen, Alameda Research will be putting $20 million into Reef Finance, the Polkadot-based DeFi platform.

According to Reef Finance, Alameda Research will be purchasing $20 million worth of the firm’s native tokens, REEF — roughly 528 million at the current price of $0.03787. The investment will reportedly allow the two companies to collaborate on technology and strategy “in the near future.” Reef CEO Denko Mancheski added the additional funds would help the firm develop DeFi applications for the Reef blockchain.