Trading and investing social media platform StockTwits raised $30 million in its Series B funding round and plans to focus on providing better cryptocurrency market data next.
What Happened: Alameda Research Ventures led the round with participation by Times Bridge, according to a Coindesk report. The funds will be spent on a geographic expansion that will start in India as well as adding products and services and expanding asset class coverage — including doubling down on crypto support.
See Also: Learn about Cryptocurrency
Stocktwits CEO Rishi Khanna said that "Alameda Research Ventures’ vast experience in crypto will truly be an advantage as our users continue to demand insight into the asset class."
The platform has so far focused on U.S. equities and its crypto support is mostly limited to channel pages filled with collected social media discussions filtered using specific hashtags.
Khanna also told Coindesk there is "a big opportunity" to deliver better products to the crypto community "in the form of better pricing feeds and data, better context and information about the coins and tokens and their products.”
He also highlighted that the community-focused model of the platform is well-suited for investment vehicles such as NFTs that are “all about community.”
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