Read the spreadsheet if you describe the investment portfolio of Alameda Research, the investment arm of the fallen crypto exchange FTX, you wonder how they had time to do anything other than invest, given the large number of deals registered. Maybe that was part of the problem.
FTX and its sister company (or parent company, depending on how you look at it) Alameda owned a bunch of different startups. The depth of the selection has not been very transparent until now.
A spreadsheet first shared by the TBEN showed Alameda’s private equity portfolio, including some FTX holdings. The document lists nearly 500 investments in 10 holding companies totaling $5.276 billion. (Like the TBEN, TBEN has yet to confirm any data shared in the spreadsheet, meaning when we discuss aggregates, we’re leading. We’ve reached out to FTX and its founder, Sam Bankman-Fried, for comment, but we haven’t heard back.)
This spreadsheet, which dates back to early November, raises some concerns about the extent to which FTX and Alameda – and their affiliates – have invested in the crypto industry.
“I scratched my head behind the FTX investments/acquisitions (i.e. Dave Inc/Storybook) last year and thought maybe SBF (as a genius) saw the market differently, and maybe I lost my sense,” says Vance Spencer , co-founder of Framework Enterprises, tweeted on Tuesday. “If you look at it all together in 2022: no, they were idiots, they set all the money on fire.”