In an interview, it was revealed that crypto exchange FTX recently acquired Alameda Research’s venture capital operations, an attempt to consolidate parts of the billionaire’s empire. Sam Bankman-Fried as it deals with a prolonged decline in cryptocurrency prices.
According to a Bloomberg report on August 25, Alameda‘s Caroline Ellison said in an interview that the crypto exchange’s investment arm, FTX Ventures launched in January – when the absorption of Alameda reportedly began – with $2 billion in assets under management.
This merger happened before former co-CEO Sam Trabucco announced his resignation on August 24.
FTX’s investment arm is said to have taken over Alameda Research’s venture capital operations in response to the ongoing crypto bear market.
Alameda’s investment arm, FTX Ventures, and crypto exchange FTX will reportedly continue to operate independently from each other.
According to reports, Alameda’s investment arm was wholly under FTX Ventures, and the two entities operated independently from one another and the cryptocurrency exchange. Amy Wu, who oversees the venture capital fund, reportedly denied that any payments were received as part of the agreement. According to Wu, the two firms were still running at “arm’s length” with the Alameda team not “working too much on the venture side day-to-day”.
Ellison reportedly said Alameda would consider continuing to offer bailouts to crypto firms hurting for liquidity amid a bear market. She added that “the more systemically important someone is, the more important it would be to try to support them.”
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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Alameda Research And FTX Merge VC Operations
In an interview, it was revealed that crypto exchange FTX recently acquired Alameda Research’s venture capital operations, an attempt to consolidate parts of the billionaire’s empire. Sam Bankman-Fried as it deals with a prolonged decline in cryptocurrency prices.
According to a Bloomberg report on August 25, Alameda‘s Caroline Ellison said in an interview that the crypto exchange’s investment arm, FTX Ventures launched in January – when the absorption of Alameda reportedly began – with $2 billion in assets under management.
This merger happened before former co-CEO Sam Trabucco announced his resignation on August 24.
FTX’s investment arm is said to have taken over Alameda Research’s venture capital operations in response to the ongoing crypto bear market.
Alameda’s investment arm, FTX Ventures, and crypto exchange FTX will reportedly continue to operate independently from each other.
According to reports, Alameda’s investment arm was wholly under FTX Ventures, and the two entities operated independently from one another and the cryptocurrency exchange. Amy Wu, who oversees the venture capital fund, reportedly denied that any payments were received as part of the agreement. According to Wu, the two firms were still running at “arm’s length” with the Alameda team not “working too much on the venture side day-to-day”.
Ellison reportedly said Alameda would consider continuing to offer bailouts to crypto firms hurting for liquidity amid a bear market. She added that “the more systemically important someone is, the more important it would be to try to support them.”
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join CoinCu Telegram to keep track of news: https://t.me/coincunews
Follow CoinCu Youtube Channel | Follow CoinCu Facebook page
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