Alameda, one of FTX CEO Sam Bankman-Fried’s companies, has a surprising list of investments. The former billionaire turned out to be an investor in Elon Musk’s companies SpaceX and Boring Company. Various altcoins are also on the list, according to data from FTX’s VC investments.
Here are the companies Alameda invests in
Data from FTX’s VC investments revealed that significant funds were allocated from Elon Musk’s companies to projects such as Aptos and Polygon. Former CEO Sam Bankman-Fried had been avoiding questions about Alameda’s list of investments for some time. Now reports show that a total of $5.4 billion is distributed among 500 different items. Crypto miner Genesis and artificial intelligence research group Anthropic were among the companies that received investment. In particular, investments in the companies of Elon Musk and Anthony Scaramucci came to the fore. Various altcoins are also included in the list…
Altcoins on Alameda’s investment list
Most of Alameda’s capital is in altcoins. According to the report, the company has allocated a significant amount of funds, especially to the following DeFi projects.
- TrueFi
- Magic Eden
- Burnt Finance
- Parallel Finance
- Solfarm
- Sundaeswap
- coincoin
Reports indicate that Alameda has invested in close to 500 different products. His biggest investment was around Genesis Digital, which was on the verge of bankruptcy. Alameda transferred $550 million in funding to Genesis.
In the meantime, there are various technology companies, large and small, on the list. Gaming studios and betting platforms, online banks, publishing companies, a military drone manufacturing company, and a business specializing in vertical farming were among the industries that raised funds from Alameda.
Biggest investment Genesis owes $900 million
Shortly after the collapse of FTX, Genesis announced that it was temporarily suspending its operations. Now Genesis and Digital Currency Group (DCG) are allegedly owed nearly $1 billion to Gemini customers. The bankruptcy of FTX caused many other companies with even remote connections to collapse. A prime example is Genesis, which has millions of locked funds in an FTX trading account.
According to reports, the platform, which suspended users’ withdrawals at the end of November, owes Gemini $900 million to its customers. The two parties joined forces last year to provide users with up to 7.4% APY on their assets. Gemini later formed a committee of creditors whose purpose was to recover the funds.
We recognize how challenging this past week has been due to the impact of the FTX news. At Genesis we are entirely focused on doing everything we can to serve our clients and navigate this difficult market environment.
— Genesis (@GenesisTrading) November 16, 2022
As you follow on Kriptokoin.com, Genesis’ parent company DCG has been on a downward trend lately. It currently has $2 billion worth of outstanding debt, mostly owed on two loans to its subsidiary Genesis. CEO Silber announced another $575 million loan to Genesis last month, due by May 2023. Despite the problems, he made optimistic statements that DCG will withstand critical times:
We’ve been through previous crypto winters and while this may sound more severe, collectively we will come out stronger.
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