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Top related persons:
FTX - 3 Sam Bankman - 3 SBF's - 2 Fried's FTX - 2 Paul Aranha - 2 Fried - 2 Aranha - 2 Shaquille O'Neal - 2
Top related locs:
Wall Silicon Delaware Connecticut Alameda
Top related orgs:
Service - 3 FTX Ventures - 3 Bahamian - 2 Court - 2 Bombardier Global - 2 Embraer - 2 Island Air - 2 IAC - 2

Search resuls for: "FTX Ventures"


8 mentions found


☆ FTX plans to give customers their money back — with one painful caveat
  + stars: | 2024-05-08 | by ( Geoff Weiss | ) www.businessinsider.com   time to read: +2 min
FTX will pay back 98% of creditors at least 118% of what they're owed, its bankruptcy lawyers said. But payments will be based on crypto values in 2022, not what its worth now as the prices surge. FTX predicts it will have between $14.5 and $16.3 billion available for distribution — mostly from previous Alameda and FTX Ventures investments, bankruptcy lawyers said. FTX founder Sam Bankman-fried was arrested in January 2023 and convicted last fall of fraud, conspiracy, and money laundering. The jury was not allowed to consider any bankruptcy activities in rendering its verdict — though the judge factored into his sentencing that FTX lawyers said victims would recover their losses.
Persons: FTX, they're, —, Jacob Shamsian, Sam Bankman Organizations: Service, FTX Ventures, Bloomberg Locations: Alameda
☆ See the private jets a Bahamian aviation firm says Sam Bankman-Fried and FTX funded with a $28 million handshake deal, which are now at the center of a 3-way ownership battle
  + stars: | 2023-09-22 | by ( Pete Syme | Taylor Rains | ) www.businessinsider.com   time to read: +5 min
FTX loaned $28 million to a private jet company to finance its purchase of two jets, a court filing says. One of them has been in government custody since February, while the FTX Debtors claimed ownership of the planes in August. AdvertisementAdvertisementThursday's court filing says IAC received the loan after a "handshake deal" between Aranha and Bankman-Fried. It wasn't until August 7 that the FTX Debtors claimed ownership of the planes, the filing says. This is not the first time FTX Debtors have tried to get back assets.
Persons: FTX, SBF's, Sam Bankman, Fried's FTX, Paul Aranha, Fried, Aranha, Shaquille O'Neal, Stephen Curry, Naomi Osaka Organizations: Service, Bahamian, Court, Bombardier Global, Embraer, Island Air, IAC, Trans Island Airways, FTX Ventures, Trans, Airways, TIA, Bombardier, Global, US Marshals Service, Bradley International Locations: Wall, Silicon, Delaware, Connecticut
☆ See the private jets a Bahamian aviation firm says Sam Bankman-Fried and FTX funded with a $28 million handshake deal, and are now at the center of a 3-way ownership battle
  + stars: | 2023-09-22 | by ( Pete Syme | Taylor Rains | ) www.businessinsider.com   time to read: +5 min
FTX loaned $28 million to a private jet company to finance its purchase of two jets, a court filing says. One of them has been in government custody since February, while the FTX Debtors claimed ownership of the planes in August. AdvertisementAdvertisementThursday's court filing says IAC received the loan after a "handshake deal" between Aranha and Bankman-Fried. It wasn't until August 7 that the FTX Debtors claimed ownership of the planes, the filing says. This is not the first time FTX Debtors have tried to get back assets.
Persons: FTX, SBF's, Sam Bankman, Fried's FTX, Paul Aranha, Fried, Aranha, Shaquille O'Neal, Stephen Curry, Naomi Osaka Organizations: Service, Bahamian, Court, Bombardier Global, Embraer, Island Air, IAC, Trans Island Airways, FTX Ventures, Trans, Airways, TIA, Bombardier, Global, US Marshals Service, Bradley International Locations: Wall, Silicon, Delaware, Connecticut
☆ LayerZero Labs valued at $3 billion after latest fund-raise
  + stars: | 2023-04-04 | by ( ) www.reuters.com   time to read: +1 min
April 4 (Reuters) - LayerZero Labs said on Tuesday that it has raised $120 million in an early stage funding round, that has tripled the blockchain messaging protocol's valuation to $3 billion. The Series B fund-raise saw participation from 33 investors, including a16z crypto, Christie's, Circle Ventures, OpenSea Ventures, Samsung Next, and Sequoia Capital, amongst others. In February, Via said it bagged a valuation of $3.5 billion after a funding round led by 83North. Last year, the New York-based blockchain infrastructure provider had raised $135 million in a funding round led by Sequoia Capital, FTX Ventures among others that valued it at $1 billion. It has received backing from some of the strongest crypto-focused companies in the entire world, including Binance, Blockdaemon, Christie's, Circle Ventures, Coinbase, OpenSea Ventures, and many more.
☆ FTX diverted $200 million of customer money for two venture deals that caught the SEC's attention
  + stars: | 2022-12-28 | by ( Rohan Goswami Mackenzie Sigalos | Rohan Goswami | Mackenzie Sigalos | ) www.cnbc.com   time to read: +3 min
FTX Ventures was described as a $2 billion venture fund, in its press release with Dave. FTX Ventures was allegedly part of that scheme. But the investments appear to be the first identified examples of customer money being used by FTX and Bankman-Fried for venture funding. In explicitly linking the two $100 million investments to customer money, the SEC has raised the possibility that they'll be prospects for clawbacks. FTX's $100 million investment was through a convertible note, a short-term loan of cash that FTX could convert into shares at a later date.
☆ Crypto entrepreneur Sun looking at FTX ventures' portfolio companies
  + stars: | 2022-11-30 | by ( ) www.reuters.com   time to read: +1 min
LONDON, Nov 30 (Reuters) - FTX's venture capital arm has assets that could be worth investing in, but since the failed crypto exchange has entered Chapter 11 bankruptcy proceedings the process could take time, cryptocurrency entrepreneur Justin Sun said on Wednesday. "FTX Ventures still has lots of portfolio (companies) and we are going through them one by one, but right now it is already in the Chapter 11 process so it might take a longer time to finish the process," Sun told a Reuters Next conference. Sun founded the crypto platform Tron and is member of cryptoexchange Huobi's global advisory board. He did not specify which organisation specifically was looking at the assets in the interview. To view the Reuters conference live, please click here; https://www.reuters.com/world/reuters-next/reuters-next-global-virtual-broadcast-2022-11-28/Reporting by Elizabeth Howcroft, writing by Alun John, editing by Louise HeavensOur Standards: The Thomson Reuters Trust Principles.
☆ Mark Cuban-backed fintech Dave says no customers exposed to FTX
  + stars: | 2022-11-17 | by ( ) www.reuters.com   time to read: +1 min
Nov 17 (Reuters) - Entrepreneur Mark Cuban-backed Dave Inc (DAVE.O) said on Thursday none of its customers were exposed to FTX and it has not launched any products in partnership with the beleaguered cryptocurrency exchange. FTX had invested $100 million in the fintech in March, through FTX ventures, to expand Dave's digital assets offerings and the company had said FTX US would be its exclusive partner for crypto. "We have not launched any products in partnership with FTX and no customers are exposed through Dave," the company spokesperson said in an emailed statement to Reuters. FTX filed for bankruptcy protection in the United States on Friday in the highest-profile crypto blowup to date, after traders pulled billions from the platform in three days and rival exchange Binance abandoned a rescue deal. Reporting by Manya Saini in Bengaluru and Saeed Azhar in New York; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.
☆ How SkyBridge founder Anthony Scaramucci is navigating the world between traditional and digital assets — plus his favorite coins and hedge funds for the tough market environment
  + stars: | 2022-09-21 | by ( Laila Maidan | Alyson Velati | ) www.businessinsider.com   time to read: +7 min
A survey conducted by the Alternative Investment Management Association (AIMA), showed that about one-third of traditional hedge funds are investing in digital assets. Approximately one-third of the panel discussions revolved around digital assets, according to SkyBridge Capital's Anthony Scaramucci. And while some funds may still be grappling with the question of how much exposure they should allocate to digital assets, Scaramucci is pedaling forward. Long term, he believes in the appreciation of digital assets, and he's willing to pay the price of absorbing the volatility in the meantime. The pivot to digital assetsSkyBridge has pivoted heavily into crypto and blockchain technology from its traditional hedge fund of funds business.
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