Announcing Chicago DeFi Alliance’s First Cohort

On April 7, 2020, we launched the Chicago Defi Alliance (the “CDA”) alongside Volt Capital, Jump Capital, and DRW. The CDA’s mission is to provide support and mentorship to startups in the DeFi space in areas including trading, markets, and regulation. We worked tirelessly over the last month to structure the CDA and review the torrent of applications submitted by promising DeFi projects.

After reviewing more than 100 applications, we are thrilled to announce the CDA’s initial cohort of DeFi startups: 0x, dydx, Kyber Network, IDEX, opyn, Set Protocol, and Synthetix. This initial cohort is eclectic from both stage and focus standpoints and we believe they have the potential to serve as foundational components of the DeFi ecosystem.

Chicago has deep roots and a strong history in proprietary trading and pioneering financial innovation, accounting for one fifth of the world’s global derivatives trading market. In 2017, Chicago reportedly accounted for 4.9bn in global derivatives volume with more than a quadrillion in notional value. In continuance of the strong Chicago history of trading and innovation, we believe the Chicago trading community is best equipped to assist in the acceleration of DeFi.

We are excited to work with the founders in the CDA’s initial cohort and we look forward to mentoring as well as learning from these teams.

About CMT Digital

Established in 2013, CMT Digital is the digital asset / blockchain-focused subsidiary of the CMT Group, an international, proprietary trading and investments firm with more than 20 years of operating history.

To date, CMT Digital’s investments have largely focused on the critical infrastructure necessary to support a digital asset / blockchain integrated society. Portfolio companies include firms such as Bakkt, BlockFi, Coinbase, Silvergate Bank, Crusoe Energy Systems, Lightning Labs, Dapper Labs, and Zap. In addition, where we see strategic opportunity, we seek to engage in the space beyond investing capital, whether that be as a client, as a liquidity provider, through our expertise, or through our review and testing of new products.

To connect with us, please email us at investments@cmt.digital.