Alameda Research Invests $35M in Fantom Foundation

  • Alameda’s investment will see the company run a validator node on top of Fantom.
  • Fantom has just integrated with The Graph, providing Alameda with significant stake in the querying protocol.
One hundred US dollar bills spread on a table

Shutterstock

According to the company’s announcement, Alameda acquired a $35 million stake in the Fantom ecosystem through the purchase of FTM, the platform’s native token.

“We came to the conclusion that strategic alignment between Alameda and Fantom is fundamentally important, as many of our technical partners – such as Ren – are part of the Alameda family of companies and products,” Fantom said in the announcement.

The investment gives Alameda a significant stake in The Graph’s recent growth—its hosted service saw queries increase to over 11 billion in January 2021, after recording a 100x growth in 2020.

Alameda’s investment in Fantom comes at the same time the company announced that blockchain data indexing protocol The Graph has launched on Fantom. Earlier this month, The Graph said it was considering integrating eight additional Layer-1 blockchain protocols, including Bitcoin, Polkadot, Cosmos, Solana, Avalanche, and Binance Smart Chain.

Fantom has been fast-tracked to production on The Graph’s hosted service, the company explained in a blog post. After requesting support from The Graph, Fantom completed the integration process in 24 hours. Andre Cronje, the DeFi Ethereum Architect for Fantom, said the ease of integration was a testament to the quality of The Graph’s technology.

Discussion
Related Coverage
Caroline Ellison and Gary Wang Hit With Fraud Charges by CFTC and SEC, Plead Guilty to SDNY Charges
  • Former Alameda CEO Caroline Ellison and FTX co-founder Gary Wang have pleaded guilty for their involvement in FTX defrauding customers and investors.
  • Ellison has entered into a plea agreement with the SDNY, which will not prosecute her for most of her crimes if she cooperates with their investigation into SBF and FTX.
December 22, 2022, 10:15 AM
judge

Shutterstock

CFTC Accuses SBF, FTX, and Alameda of Fraud, Files Lawsuit
  • The regulator claimed that at the direction of SBF, FTX executives added features to FTX’s underlying code that allowed Alameda to maintain an unlimited line of credit on FTX.
  • The CFTC also alleged that Alameda had access to customer funds on FTX ever since the exchange was established in 2019.
U.S. SEC Charges Sam Bankman-Fried With Investor Fraud
  • Only a day after his arrest, the U.S. SEC charged Sam Bankman-Fried with defrauding investors and using customer funds to support his lavish lifestyle.
  • The regulator is seeking injunctions against future securities law violations, legal repayment of his ill-gotten gains, a civil penalty, and a bar from executive roles in SEC-reporting companies.