Alameda Research, that declared bankruptcy, invested more than $1 billion in Genesis Digital Assets
Bloomberg reporters said they had access to a document that compiled data on Alameda and FTX’s investment transactions. According to the information obtained, Alameda Research, which recently announced its financial insolvency, invested $1.15 billion in Genesis Digital Assets. The largest transaction was conducted in January 2022 and amounted to $500 million. Genesis now has serious risks hanging over the liquidity crisis.
During the final round of funding, the BTC-miner business was valued at $5.52 billion.
Thus, according to Bloomberg, based on the total investment volume, Genesis Digital Assets is the largest entity in Sam Bankman-Fried’s portfolio.
According to the previous information, Alameda Research’s financial insolvency filing was preceded by a $200 million equivalent withdrawal of digital assets. The operations were made in the American division of FTX.
As a consequence of the incident, experts note the intensification of the liquidity crisis. The situation is exacerbated by a significant number of companies, which will be affected by the collapse of the crypto exchange. For example, when trying to help Alameda, Bankman-Fried transferred $4 million in its favor. These were FTT tokens, client funds, and Robinhood securities.
According to Crypto Fund Research, 25-40% of the structures that are invested in FTX are bound to face serious difficulties.
