System 9 Closes $5.7M Series A Funding Round to Expand Operations
System 9, a digital asset market-making firm focused on the alt-coin market announced today the closing of an equity financing round. Proceeds from the equity raise will be used to further scale the technology infrastructure & business operations supporting its proprietary market-making, and to expand its service offerings.
Equity investors include lead investor Capital6 Eagle (C6E), a venture firm focused on blockchain infrastructure. Additional investors include: Kronos Asset Management, C2 Ventures, Gate Ventures, Ascendex Ventures, as well as several well-established blockchain investors.
The System 9 team has deep experience and expertise across both the traditional finance and digital asset sectors.
Peter Sokolow is the Co-Founder and CEO of System 9. He began his career as a clerk on the floor of the Chicago Board of Trade (now Chicago Mercantile Exchange), before becoming a floor trader and Options Market Maker. He began trading and mining cryptocurrencies in 2011 and has remained in the space, most recently founding System 9 in 2018.
Marc Orenstein, CFO of System 9, was previously CIO at Blockweather Holdings, a long/short volatility crypto fund. He also founded Observa Capital, a systematic long/short equity fund backed by an ex-Partner of Goldman Sachs, as well as being a portfolio manager at Davis Capital Management. His career began at Bear Stearns in Convertible Bonds, and at JP Morgan as a listed equity trader.
Joshua Baker, COO of System 9, also co-founded Verd Steel, a material science research firm.