Sam Bankman-Fried, founder and CEO of cryptocurrency change FTX, has denied experiences that his two corporations, FTX ventures and Alameda Analysis, are merging enterprise capital operations.
The information comes after Sam Trabucco, co-CEO of crypto asset fund Alameda Analysis, introduced on Twitter on Aug. 25 that he can be stepping down from his management position.
Caroline Ellison would be the firm’s sole CEO following the departure of Sam Trabucco.
Sources mentioned the merger is a part of an effort to strengthen billionaire Sam Bankman-Fried’s empire in response to a chronic decline in cryptocurrency costs.
Sam Bankman-Fried tweeted again, “This looks like a giant misinformation to me!”
He added, “FTX’s enterprise capital is concentrated below FTX Ventures — in contrast to Alameda’s enterprise capital, which isn’t.”
The enterprise capital arm of FTX and the enterprise capital enterprise of sister firm Alameda Analysis aren’t mixed however function independently as two corporations.
Amy Wu, CEO of FTX Ventures, mentioned that the FTX Cryptocurrency Change, FTX Ventures, and Alameda all function fully as separate entities from one another.
Alameda CEO Caroline Ellison explains that Alameda will focus totally on exchanges, OTC, and decentralized finance.
She added, “We’re arm’s size and do not get any completely different therapy from different market makers. The Alameda group is not working an excessive amount of on the enterprise facet day-to-day.”
FTX Ventures launched earlier this 12 months and raised $2 billion in January, throughout which no cash modified palms between FTX and Alameda.
FTX manages property by way of Alameda Analysis, a quantitative cryptocurrency buying and selling agency, based by Sam Bankman-Fried in October 2017.
Picture supply: Shutterstock
