FTX CEO denies rumors of merging Alameda Research fund with FTX Ventures

FTX CEO Sam Bankman-Fried has denied that the exchange will merge the firm's investment arm, FTX Ventures, with Alameda Research fund.

FTX CEO denied rumors that he would merge Alameda Research fund with FTX Ventures

Specifically on the afternoon of August 26, right after the co-CEO of investment fund Alameda Research announced his resignation, Bloomberg newspaper revealed quite a bit of information. Suddenly, FTX CEO Sam Bankman-Fried is planning to merge FTX Ventures and Alameda Research into one.

Accordingly, Bloomberg said that the agreement to divide the market share and business activities of these two funds is clearly stipulated as follows:

  • FTX Ventureswill be responsible for most of the use of the funds. money to invest in potential projects in the market.
  • FTX CEO denied rumors that he would merge Alameda Research fund with FTX VenturesSpecifically on the afternoon of August 26, right after the co-CEO of investment fund Alameda Research announced his resignation, Bloomberg newspaper revealed quite a bit of information. Suddenly, FTX CEO Sam Bankman-Fried is planning to merge FTX Ventures and Alameda Research into one.

 

Accordingly, Bloomberg said that the agreement to divide the market share and business activities of these two funds is clearly stipulated as follows:

 

 

In fact, as a reputable investment fund founded in 2017 by Sam Bankman-Fried, Alameda Research has supported a large number of very successful crypto startups at the present time, including including NFT Marketplace Magic Eden and Anchorage Digital.

And in November 2021, Mr Sam Bankman-Fried left Alameda Research to focus more on the FTX business, ceding the right to take over for two co-CEOs, Mr. Sam Trabucco and Ms. Caroline Ellison. This means that the CEO of FTX and the exchange will not interfere too deeply in Alameda Research's activities as these two organizations are almost unrelated to each other.

Meanwhile, FTX Ventures is also a fund officially established from FTX's expansion and development, the exchange has spent $ 2 billion for FTX Ventures to focus on Web3 and blockchain games.

In general, Bloomberg's view of Alameda Research and FTX Ventures mentioned in the article is that these two funds were both founded by Mr. Sam Bankman-Fried, have independent functions, so they can be viewed. are two separate divisions within a large investment fund controlled by FTX. However, before the latest affirmations from the CEO of FTX, both FTX Ventures and Alameda Research are two separate brands.

Crypto Fox News summary 

 

 


Aug 25, 2022

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