The latest update in the FTX bankruptcy case comes as a new deal was struck between the defunct cryptocurrency exchange and Abu Dhabi.
A court document from the United States Bankruptcy Court for the District of Delaware on March 8 revealed that Alameda Research, the investment branch of FTX, will sell its remaining interest in venture capital firm Sequoia Capital to the Abu Dhabi sovereign wealth fund.
According to the document, FTX “decided to enter into the Agreement with Purchaser based on its superior offer and ability to execute the Sale Transaction within a short time frame.” This was after interest in purchasing the shares from four different parties.
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Al Nawwar Investments RSC Limited, the buyer of Alameda’s share, is owned by the government of Abu Dhabi –
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