The enterprise capital arm of Sam Bankman-Fried’s crypto buying and selling agency Alameda Research had illiquid investments price greater than $5.4bn unfold throughout practically 500 corporations, newly printed paperwork have revealed.
The enterprise investments managed by Bankman-Fried seems to have lined every thing from metaverse gaming corporations, to crypto mining, lending and pockets improvement, in addition to unrelated industries like betting, synthetic intelligence (AI), publishing, and on-line banking.
The investments within the 500 corporations have been held by 10 completely different holding corporations, all affiliated with Alameda Research and FTX, and managed by Sam Bankman-Fried, the paperwork confirmed.
The paperwork have been first printed by the Financial Times in an article on Tuesday.
Investments in SpaceX, Sequoia Capital and others
Among the precise corporations talked about within the paperwork have been the enterprise capital large Sequoia Capital, Anthony Scaramucci’s agency SkyBridge Capital, Elon Musk’s area exploration firm SpaceX, and AI researcher Anthropic, to call only a few.
According to article, the screenshots have been taken from an excel spreadsheet from early November. That was across the similar time as Bankman-Fried was seeking funding to keep his firm afloat amid an intensifying run on deposits from FTX prospects.
Per FT, citing “an individual conversant in the rescue effort,” the spreadsheets have been ready by FTX in an try to supply the investments as collateral for potential new credit score strains from traders.
Blurred strains between FTX and Alameda
The FT article additional identified that the funding portfolio that has now been made public may assist investigators discover out whether or not the Bankman-Fried’s buying and selling and change companies have been separate entities or not.
Bankman-Fried has made some extent out of claiming that there was a transparent distinction between FTX the change, and Alameda’s buying and selling actions. As beforehand reported, nonetheless, FTX has previously lent billions of dollars in user funds to Alameda Research to fund dangerous bets.
Bankman-Fried has in an earlier interview admitted that he was concerned in Alameda’s enterprise capital enterprise, however has thus far refused to reply questions on any misuse of FTX buyer funds.