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Alameda Research invested $1.15B in crypto miner Genesis Digital: Report

Published 12/03/2022, 03:38 PM
Updated 12/04/2022, 05:40 PM
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Crypto mining company Genesis Digital Assets was the biggest venture investment made by Alameda Research, FTX's sister company and in the center of the exchange's bankruptcy. Documents disclosed by Bloomberg on Dec. 3 show that Genesis Digital raised $1.15 billion from Alameda in less than nine months.

The capital infusion was made before the crypto prices downturn, between August 2021 and April of this year. Genesis Digital is the major United States-based Bitcoin mining company, and it's not related to Genesis Capital, the trading company with $175 million worth of funds locked away in an FTX trading account.

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