Venture Capital Arm of Sam Bankman-FriedUS crypto trading firm Alameda Research had illiquid investments worth more than $5.4 billion in nearly 500 companies, newly published documents have revealed.
Venture investments handled by Bankman-Fried range from metaverse gaming companies to crypto mining, lending and wallet development, as well as unrelated industries such as betting, artificial intelligence (AI), publishing and online banking.
Investments in the 500 companies were conducted by 10 separate holding companies, all affiliated with Alameda Research and FTX, and controlled by Sam Bankman-Fried, the documents show.
The documents were first published by the Financial Times in a Article on Tuesday.
Investments in SpaceX, Sequoia Capital and others
Specific companies mentioned in the documents include venture capital giant Sequoia Capital, Anthony Scaramucci’s firm Skybridge Capital, Elon Musk’s space exploration company SpaceX and AI researcher Anthropic.
According to the article, the screenshots were taken from an Excel spreadsheet in early November. That was about the same time that Bankman-Fried seeking money to keep your firm afloat Amidst intensification on deposits from FTX clients.
The spreadsheet was prepared by FTX in an effort to solicit investors from investors offering investments as collateral for potential new credit lines, per the FT, citing “a person familiar with the rescue effort.”
Blurred Lines Between FTX and Alameda
The FT article further noted that the investment portfolio, which has now been made public, could help investigators determine whether Bankman-Fried’s trading and exchange businesses were separate entities.
Bankman-Fried makes a point saying that there was a clear distinction between the trading activities of the FTX exchange and Alameda’s. As previously stated, however, FTX has in the past Lended billions of dollars in user funds to Alameda Research To make risky bets.
Bankman-Fried is in the first Interview admitted that he was involved in Almeida’s venture capital business, but has so far refused to answer questions about any misappropriation of FTX client funds.
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