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Cryptocurrency News

Alameda Research and FTX merge VC operations: Report

08/26/2022

Less than a minute

2022.08.26 03:06

Sam Bankman-Fried’s cryptocurrency exchange FTX’s investment arm has reportedly absorbed the venture capital operations of Alameda Research in response to the ongoing crypto bear market.

According to a Thursday Bloomberg report, Alameda’s Caroline Ellison said in an interview that the merger had happened prior to former co-CEO Sam Trabucco announcing his resignation on Wednesday, leaving Ellison as the firm’s sole CEO. The investment arm of the crypto exchange, FTX Ventures launched in January — when the absorption of Alameda reportedly began — with $2 billion in assets under management.

Source

08/26/2022

Less than a minute