System 9 Closes $5.7M Series A Funding Round to Expand Operations

Published: Jun. 23, 2022 at 12:17 PM EDT

LOS ANGELES, June 23, 2022 /PRNewswire/ -- System 9 Inc ("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 crypto currencies 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 co-founded Verd Steel, a material science research firm.

About System 9

System 9 is a digital asset market making firm providing software-based trading services to token issuers and digital asset exchanges to build liquidity, increase stability, and augment price discovery. With offices in the US, London, and Singapore, System 9 has achieved impressive growth over the past two years and is now servicing more than 80 clients.

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