Sam Bankman-Fried, the co-founder and former CEO of FTX, invested over 20 million USD in a venture capital firm, Paradigm, that later bought a stake in FTX, revealed the court filings.
As the court proceedings of once a crypto billionaire is proceeding that is various information that’s coming out to the public. In the bankruptcy filing this week, it was indicated that Bankman-Fried had invested in a fund managed by Paradigm, a total of 2.5 billion USD, which was later invested by Paradigm One in FTX and its US exchanges.
Bankman-Fried was treated equally with the other investors in its fund, according to Paradigm. It was founded in 2018 by former Sequoia Capital partners Matt Huang and Coinbase co-founder Fred Ehrsam.
(By Shourya Jha)
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