Alameda Research, one of the major crypto trading companies, is using DeFi loans to finance a part of its daily trading activities. The leading crypto company transacts about $5 billion in crypto on a daily basis and just announced that it will borrow $750 million from TrueFi and Maple Finance over the course of the year.
Alameda Research is a major trader on the exchange and one of the famous crypto firms founded by Sam Bankman-Fried of FTX. It was also a major investor in TrustToken, TrueFi’s parent company, in its $12.5 million funding round. TrueFi and other DeFi platforms were created to help and address one of the numerous challenges that crypto traders face: access to funds.
Alameda senior executive Sam Trabucco says that the company already does a lot of business through DeFi, and that borrowing money from DeFi is also a big part of the company’s balance sheet. He also claimed that the company intends to utilise all major DeFi systems. The crypto industry has lately revived, as seen by the increasing number of DeFi systems that have been doing well.
While there is no doubt that DeFi has more room to grow, recent political tensions around the world have shown that the crypto business as a whole can help people achieve their financial independence goals.