Cointime

Cointime

Download App
iOS & Android
Home / Financing

Alameda Invested $1.15 Billion Into Crypto Miner Genesis: Bloomberg

Alameda Research, the trading firm closely related to embattled exchange FTX, invested $1.15 billion into crypto miner Genesis Digital Assets. 

This was Alameda's and FTX's biggest venture investment and valued the company at $5.5 billion in an April funding round, according to documents obtained by Bloomberg that listed FTX and Alameda's venture portfolio.

Alameda made four separate capital injections into the crypto miner. Last August, it invested about $100 million in the miner. It invested $550 million in January, followed by $250 million in February and $250 million in April. 

The crypto miner has no relation to Genesis Trading, whose lending unit suspended redemptions in the wake of FTX's collapse. 

Marco Streng founded Genesis Digital Assets in April 2021. Streng previously founded its predecessor company, Genesis Mining, which opened its first facility in Iceland in 2014. 

(By Tom Matsuda)

Alameda Research Crypto
Comments

All Comments

Recommended for you

  • Ellipsis Labs Completes $20 Million in New Funding

    Ellipsis Labs has announced the completion of a new round of financing of $20 million, with participation from Haun Ventures, aimed at accelerating the launch of Atlas, a second-layer blockchain focused on verifiable finance. Haun Ventures said that this round of financing is a "quick follow-up" to Ellipsis Labs' $20 million Series A financing completed in April.

  • Blockchain solar company Glow completes $30 million in funding

    blockchain solar energy company Glow has completed a $30 million financing round, led by Framework Ventures and Union Square Ventures. Other specific information has not been disclosed. According to reports, Glow operates a decentralized physical infrastructure network (DePIN) composed of solar farms in the United States and India. To encourage farms on its network to use clean energy, the founder designed an economic model based on subsidies and token incentives.

  • Ethereum scaling infrastructure Spire Labs raises $7 million in seed funding

    Spire Labs, the developer of Ethereum scaling infrastructure, has raised $7 million in seed funding. Maven 11 Capital and Anagram co-led the round, with participation from a16z Crypto Startup Accelerator, Digital Currency Group, Bankless Ventures, Volt Capital, Finality Capital, and other companies. Angel investors also participated in the round, including Nick White and Jacob Arluck from Celestia Labs, and Amrit Kumar and Anthony Sassano from AltLayer.

  • Bitcoin project Citrea raises $14 million in Series A funding

    Bitcoin Rollup project Citrea has raised $14 million in Series A financing, led by Peter Thiel's Founder Fund, with angel investors Erik Voorhees and Balaji Srinivasan also participating. Citrea raised $2.7 million in seed funding in February in a round led by Galaxy. The company uses the BitVM computing paradigm to allow Ethereum-style smart contracts to be used on Bitcoin.

  • Blockchain solar company Glow completes $30 million in funding

    blockchain solar company Glow has completed a $30 million financing round, led by Framework and Union Square Ventures. The CEO and co-founder of Glow stated that Vorick plans to use this funding to expand the company from 5 megawatts of power to 600 megawatts in the next 18 months and expand to new countries. Glow operates a DePIN network consisting of solar power plants in the United States and India. To encourage farms on its network to surpass the "dirty" energy grid, the founder designed an overall economy based on subsidy and token incentive models.

  • Web3 gaming infrastructure Alliance Games completes $5 million Series A funding

    Alliance Games, a Web3 gaming infrastructure, has completed a $5 million Series A financing round. The round was led by Animoca Brands and Asymm Ventures, with participation from The Spartan Group, Dialectic, Kyros Ventures, Coin98 Ventures, and investors Loi Luu and Sebastien. Including its previous seed round financing, Alliance Games has raised a total of $8 million.

  • AI startup Crusoe Energy is raising $500 million at a $3 billion valuation

    AI infrastructure company Crusoe Energy is about to complete a $500 million equity financing, led by billionaire Peter Thiel's Founders Fund. This round of financing values the company at $3 billion, double its value two years ago. Just a few weeks ago, Crusoe Energy announced a $3.4 billion joint venture agreement with Lancium Clean Campus to build a data center in Texas.

  • AI data collection startup Sapien raises $10.5 million in seed funding

    AI data collection startup Sapien has completed a $10.5 million seed round of funding, led by Variant, with participation from Primitive Ventures, Animoca, Yield Game Guild, and HF0. Sapien's team is led by former co-founder of Coinbase Layer2 network Base, Rowan Stone, and founder of Polymath and author of RWA standard ERC1400, Trevor Koverko. Sapien rewards data providers using USDC stablecoins or a reward points system.

  • Privacy-Focused Blockchain Project Nillion Raises $25M in Funding Round Led by Hack VC

    Privacy-focused blockchain project Nillion has secured $25 million in a funding round led by Hack VC, with participation from Arbitrum, Worldcoin, and Sei. Nillion aims to attract projects at the intersection of blockchain and AI, where secure sharing and storage of large amounts of data are crucial. The company's service is built around the concept of "blind computing," which enables the processing of data without revealing its contents. Nillion's partners include blockchain networks NEAR, Aptos, Arbitrum, and Ritual, among others.

  • Bitcoin re-staking protocol PumpBTC completes 10 million seed round financing

    PumpBTC, a Bitcoin liquidity collateral platform, announced the completion of a $10 million seed round of financing, led by SevenX Ventures and Mirana Ventures, with participation from UTXO, Mantle Ecosystem Fund, and other institutions, and attracted many industry partners such as Quantstamp and Veda.

Daily Must-Read

Popular Activities

Delysium $AGI & AI Private Yacht Party

Delysium $AGI & AI Private Yacht Party

March 27 - March 27
Seoul

Popular Tags

Cointime
News
Contents
RSS
Company