Alameda keeps busy: new IEO, investment in UpBots, and collaboration with YFI founder

Quantitative trading institution Alameda has been making frequent moves lately, releasing news of investments and acquisitions, mirroring the model of one of the world's largest exchanges, Binance. Its subsidiary exchange FTX just announced the acquisition of the cryptocurrency profit and loss tracking platform Blockfolio for $150 million. On the 28th, it exploded with three new pieces of news.

New IEO: Hedget

First up is the FTX's upcoming IEO project - Hedget (HGET), announced at noon. Although details have not been disclosed yet, the previous Serum (SRM) offering with a minimum tenfold opening return may have many loyal users looking forward to this.

According to the Hedget (HGET) whitepaper, it is a decentralized options platform.

Investing in UpBots

UpBots is a platform aiming to offer all-in-one trading, allowing users to trade on both centralized and decentralized exchanges through a single interface. Moreover, users can also engage in staking and borrowing activities on DeFi protocols.

Alameda, along with several investment institutions, has collectively injected $1.1 million in investment. UpBots has also expressed its intention to seek listing opportunities on Serum.

Collaboration with YFI Founder

Alameda's co-founder, Sam Bankman-Fried, is fervently pursuing his DEX ambition - Serum, hoping to nurture a new DeFi ecosystem on the emerging public chain Solana.

Meanwhile, Andre Cronje, the revered founder of YFI within the DeFi community, was asked by Sam Bankman-Fried on the 28th, "What should we do together?"

Andre Cronje responded:

"It seems like the secret can't be kept, so some expectations management is necessary. We are working on a long-term plan, so nothing will appear in the short term. But there will be very exciting things in the future."

Alameda seems to be heading down the path of creating a large exchange ecosystem like Binance, through acquisitions, investments, and partnerships, but the current focus is more on decentralization and DeFi.