The cryptocurrency market is going through tough times due to the FTX crisis. FTX, one of the largest cryptocurrency exchanges, is facing bankruptcy, causing the market to worry. While this situation pushes major cryptocurrencies such as Bitcoin and Ethereum to low levels; Coins related to the stock market and Alameda Research, the investment arm of the stock exchange’s “sister company”, took a bigger hit. In this article, we will list the crypto money projects that FTX and Alameda have invested in. Here are the details…
FTX and Alameda crisis brings projects into consideration
FTX; Singapore’s state-owned investment firm Temasek has been backed by major players in the venture capital scene, including Sequoia Capital, BlackRock, SoftBank, Ontario Teachers’ Pension Plan, Paradigm, Circle, Ribbit Capital, Alan Howard, Tiger Global and Multicoin Capital. Meanwhile, the stock market and its sister company Alameda Research also invested in many projects.
Currently, investors are wondering about the altcoins that these two companies invest in. Because users want to avoid the said downward trend. But it would be wrong to say that these cryptocurrencies will definitely fall or be negatively impacted by FTX, Alameda. Still, it is worth noting that uncertainty may prevail in these altcoins.
Here are the coins that companies invest in…
FTC Ventures, the investment arm of FTX, had invested $450 million in Yuga Labs. cryptocoin.com As we reported, Yuga Labs is the company behind ApeCoin (APE), a popular NFT coin. Meanwhile, the issuer of USDC, the second largest stablecoin, has invested $440 million in Circle. But yesterday, Circle’s CEO posted a tweet in which he explained that his ties with FTX are pretty weak.
On the other hand, FTX participated in the investment round of Near Protocol. Near Protocol is the platform behind the NEAR cryptocurrency. On the other hand, Mysten Labs and Aptos (APT) investments behind the SUI token have been among the notable investments in recent months. The companies had also invested in Polygon. As it is known, Polygon is a platform that provides scalability solution behind MATIC coin.
Another coin that has received investment from FTX and related companies is Solana. Solana is already experiencing a serious decline due to these investments. As is known, the decrease in SOL caused increased volatility. This has caused some exchanges to restrict some of their services for SOL. Other coins that FTX has invested are as follows:
- Voyager (VGX)
- Immutable X (IMX)
- 1inch (1INCH)
- Sky Mavis (the company behind Axie Infinity (AXS))
- Mina Protocol (MINA)
- Lido (LDO)
- Mobile Coin (MOB)
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