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Cryptoknowmics 2022-08-26 12:09:50

FTX Ventures Denies Merging With Alameda’s Crypto VC Business

Sam Bankman-Fried’s FTX Ventures denied reports that its venture capital arm and Alameda Research’s venture capital arm would merge. FTX Ventures, the crypto exchange’s investment arm, allegedly started in January, when the absorption of Alameda began, with $2 billion in assets under control. Alameda’s Investment Arm Under FTX Ventures As per reports, the head of the venture capital fund, Amy Wu, stated there were no payments made as part of the agreement and that Alameda’s investment arm was completely under FTX Ventures, with the two workings independently from one another and the cryptocurrency exchange. The Alameda team wasn’t “working too much on the venture side day-to-day,” according to Wu, who claimed that the two businesses were still operating “arm’s length” from one another. Voyager Digital Rejected Joint Offer From FTX And Alameda In July, Voyager Digital turned down a combined offer to acquire its crypto assets and outstanding liabilities from FTX and Alameda. At the time, the firm’s legal team warned that the proposed acquisition may “damage customers.” Alameda has made its contributions, such as supporting the cryptocurrency custody company Anchorage Digital. According to reports, Alameda’s Caroline Ellison stated that Alameda would continue to issue bailouts to crypto companies that need financing during a down market. “It would be more vital to attempt to help them,” she said, “the more systemically essential ...

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