Detailing the investment portfolio of Alameda Research, the investment arm of defunct crypto exchange FTX, one wonders how they had time to do more than invest given the sheer number of transactions. Maybe that was part of the problem.
FTX and its sister company (or parent company, depending on how you look at it) Alameda had their hands in a bunch of different startups. The depth of their list was not very transparent until now.
In the spreadsheet First of all shared by the Financial Times showed Alameda's private equity portfolio, with some FTX positions included. The document includes nearly 500 investments in 10 holding companies totaling $5,276 billion. The Financial Times has yet to confirm all the data shared in the spreadsheet, which means that when we talk about aggregates, we're talking directionally. We have reached out to FTX and its founder, Sam Bankman-Fried, for comment but have not yet been able to comment.
This spreadsheet, dated early November, raises a number of concerns about the extent to which FTX and Alameda, and their companies affiliates, invested in the cryptocurrency industry.
“I scratched my head at FTX (i.e. Dave Inc/Storybook) investments/acquisitions last year and thought maybe SBF (like a genius) saw the market differently, and maybe I was losing my touch” , tweeted Vance Spencer, co-founder of companies. "Looking at it all together in 2022: no, they were idiots, they set all the money on fire."
