Founded by Sam Bankman-Fried, Alameda Research invested more than $1 billion in the mining company Genesis Digital Assets from August 2021 to April 2022. Bloomberg reports this, citing internal documents of the trading firm.
Journalists claim they gained access to a spreadsheet listing the portfolio investments of the FTX and Alameda Research exchange. The latter allegedly put about $1.15 billion into the miner across four rounds:
- $100 million in August 2021;
- $500 million in January 2022;
- $250 million in February;
- $250 million in April.
In the last round of financing, Alameda Research valued the miner business at $5.5 billion.
According to Bloomberg, given the total sum invested, Genesis Digital Assets is the largest investment in Bankman-Fried’s companies’ portfolio.
Earlier, Arkham analysts said that shortly before FTX Group filed for bankruptcy, Alameda Research withdrew from the wallets of the exchange’s U.S. subsidiary more than $200 million in digital assets.
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