TechFlow news, according to The Wall Street Journal citing sources, of Alameda Research's $1.15 billion investment in bitcoin mining firm Genesis Digital, only about half was used for the company's operations, while over $500 million was used to purchase existing shares from two co-founders of Genesis Digital. A spokesperson for Genesis Digital said the company received funds from Alameda "at market value" during fundraising, and its founders held a majority stake in the company.
Earlier reports indicated that between August 2021 and April 2022, Alameda Research invested a total of $1.15 billion into mining firm Genesis Digital, including approximately $100 million in August 2021, $550 million in January 2022, $250 million in February 2022, and another $250 million in April 2022 at a valuation of $5.5 billion. Genesis Digital became Alameda Research’s largest venture investment.Original link
