FTX Sucking Alameda Research Liquidity Due to Acquisition Drive…Details Here

FTX Sucking Alameda Research Liquidity Due to Acquisition Drive…Details Here

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Answer FTX Sucking Alameda Research Liquidity Due to Acquisition Drive…Details Here

According to Amy Wu, head of the fund at Alameda Research, the transfer of funds began in January of this year, when FTX Ventures raised $2 billion.

While venture capital investment is now entirely focused on FTX Ventures, Wu emphasized that the FTX cryptocurrency exchange, the venture arm, and Alameda are all independent of one another.

Wu stressed that all three operate as separate entities.

Given the size of Alameda’s portfolio, incorporation could have significant implications for the crypto startup industry.

According to research from PitchBook, Alameda has invested heavily, supporting more than 150 private companies including the non-fungible token market “Magic Eden” and crypto bank Anchorage Digital.

Read:After the bitcoin theft, Coinsecure announces $3 million in compensation

The two companies, FTX and Alameda, were founded by “Sam Bankman-Fried”.

Previously, Alameda and FTX made a joint cash offer to buy the assets of cryptocurrency lender and trading platform, Voyager Digital LLC, which was suffering from a liquidity crisis and insolvency.

Voyager responded by calling the bid a low-profile bid, adding that it could disrupt the bankruptcy process.

According to a company spokesperson, Alameda Research is open to offering similar rescues if the crypto winter continues to be bitter.

Wu commented:

The more methodologically important someone is, the more important it is to try to support them.

Earlier, Bankman said that between him and FTX, he had a few billion dollars to help support troubled crypto companies, having already helped several distressed companies.

Read:SEC files a lawsuit against a fraudulent crypto project marketed by a Hollywood star

Read also:

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