Tread.fi, an algorithmic crypto trading platform founded by former Morgan Stanley employees, completed a $3.50 million seed round led by New Form Capital, with participation from Aquanow, Varys Capital, GBV Capital, Thanefield Capital and others. Tread.fi founder and CEO David Jeong, a former vice president of quantitative research at Morgan Stanley, declined to comment on the valuation, but said the round was structured using a simple agreement for rolling future equity (SAFE) with a symbolic cover letter, laying the groundwork for Quarter 1's next round in 2025.