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Crypto Exchanges FTX and Alameda Will Merge VC Operations

This announcement comes just one day after Alameda co-CEO Sam Trabucco announced he was shifting into an advisory role....
ftx and Alameda merge
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This announcement comes just one day after Alameda co-CEO Sam Trabucco announced he was shifting into an advisory role.

According to a Bloomberg interview, Alameda CEO Caroline Ellison said that Sam Bankman-Fried’s crypto trading platform FTX and trading company Alameda Research will merge venture capitalism operations. This news comes just days after Ellison’s coCEO Sam Trabucco was promoted to an advisory role.

FTX Ventures raised 2 billion in funding in January. Alameda was also absorption around that time. According to the article, financial payments were not made to Alameda. It operates independently from the FTX exchange.

Alameda was a venture capital investor and supported many crypto startups including Anchorage Digital and Magic Eden, a non-fungible token market.

Bankman-Fried is actively looking for acquisitions and has offered money to companies in financial crisis. FTX US made a deal to acquire BlockFi, a crypto lender. It was also discussing the purchase of South Korean cryptocurrency exchange Bithumb. This comes after the June acquisitions by Bitvo, a cryptocurrency trading company, as well as Embed, an clearing firm.

CNBC could not reach FTX to comment on financial leaks. However, Bankman-Fried confirmed the numbers via Twitter.

Elena Argyros

Elena Argyros

Elena is cryptocurrency writer / journalist based in Europe. She has extensive knowledge in the crypto space and is a solidity programmer by trade. Elena has built an extensive resume working with some of the most ground breaking blockchain firms. Being in Europe, Elena has amassed a large network of professionals in the space and states "The technology behind blockchain is going to impact everyone on earth in a good way, once you get to understand it".
Elena Argyros

Elena Argyros

Elena is cryptocurrency writer / journalist based in Europe. She has extensive knowledge in the crypto space and is a solidity programmer by trade. Elena has built an extensive resume working with some of the most ground breaking blockchain firms. Being in Europe, Elena has amassed a large network of professionals in the space and states "The technology behind blockchain is going to impact everyone on earth in a good way, once you get to understand it".

© 2022 The Daily Encrypt. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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