April 8, 2020 Traditional Chicago trading companies launch DeFi alliance.

On Wednesday, a group of Chicago-based trading companies announced the formation of the Chicago DeFi Alliance (CDA). The new body includes Cumberland, CMT Digital, TD Ameritrade, DV Trading, Jump Trading, alongside Volt Capital, a venture capital fund and Compound, a DeFi lending business. For now, the alliance will focus on advising startups, who will supposedly benefit from the experience of the established companies while the alliance members will themselves benefit from exposure to startups that may pose attractive investment opportunities.