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Here’s Alameda’s Investment Portfolio: WSJ Report

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The Financial Times (FT) published a document on Tuesday exposing where Alameda’s venture investments went days before the FTX Group filed for bankruptcy. 

Its hundreds of investments included high-profile companies like SpaceX, and a variety of crypto tokens like Polygon (MATIC), and NEAR. 

  • The spreadsheet, dated early November, included Alameda’s private equity portfolio, alongside “some FTX bets mixed in.”
  • According to the document provided, Alameda had over $5.4 billion spread across almost 500 “illiquid investments,” split between 10 holding companies. 
  • Among these investments was a $1 billion+ position with Bitcoin miner Genesis Digital. Mining firms have been under massive distress over the past six months, with industry leaders like Core Scientific losing billions of dollars to increasing mining difficulty and plummeting Bitcoin prices. 
  • Meanwhile, its positions with the HOLE and Polygon (MATIC) tokens amounted to $67.5 million and $50 million respectively. CoinMarketCap has no coins listed under the ticker HOLE besides an asset called “Super Black Hole,” for which no market data is available. 
  • Alameda also appeared to have at least $200 million invested in Sequoia, $150 million invested in the now-bankrupt Voyager Digital, and another $75 million in Aptos – the layer 1 blockchain that had an underwhelming debut in November. 
  • Alameda had another $50 million of equity in Yuga Labs – the company behind Bored Ape Yacht Club (BAYC) NFTs which was recently investigated by the Securities and Exchange Commission. 
  • Prior to FTXs insolvency, the portfolio was reportedly offered up as equity in a hasty attempt to shore up funds for FTX Group in a new credit line. 
  • The spreadsheet appears to further blur the lines between both FTX and Alameda, with some of its listed investments (ex. Genesis) also previously appearing on FTX’s balance sheet. 
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