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Alameda Research and FTX merge VC operations: Report

Published 08/25/2022, 05:25 PM
Updated 08/25/2022, 08:00 PM
Alameda Research and FTX merge VC operations: Report

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.

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