Altcoins News

$ 20 million investment in the Reef project


The Reef platform has begun a strategic partnership with Alameda with a multi-million dollar investment agreement.

to the the report The price of cryptocurrency, the proprietary Token “Reef Finance”, increased by 30.82% due to the investment of Alamda Research. The $ 20 million investment was spent on reef tokens.

In addition to investing, Alamda Research will begin a strategic partnership with Reef. The goal of both companies is to build a bridge between the Polkadot and Solana blockchains. This strategic partnership will also integrate Reef with a decentralized FTX-supported serum exchange as well as Radium based on Solana.

Reef Finance is a multi-purpose defense engine that offers a variety of functions such as providing liquidity and aggregating performance between lending and profit-making platforms. Reef Finance supports multiple Blockchainks using Polkadot.

Alamda was founded by Sam Bankman-Fried and is one of the leading OTC desks for buying Bitcoin. Alamda Research recently invested in the Maps.me mapping service and a defa platform called Oxygen. The company also plans to invest in startups in the fields of medicine, artificial intelligence and blockchain.

The total market value of the Reef token exceeded $ 500 million, and the token experienced a 30.82% jump just hours after the announcement of Alamda’s investment.

reef finance
Price chart Reef Finance

The Reef is currently trading in the $ 0.29 range. The token had reached its historic high of $ 0.35 on March 23rd.

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