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Alameda Research Sells Interest in Sequoia Capital to N. Abu Dhabi Fund

• The US Bankruptcy Court for the District of Delaware recently revealed an agreement between Alameda Research and N. Abu Dhabi sovereign wealth fund to sell Alameda Research’s interest in Sequoia Capital.
• Judge John Dorsey has already signed off on assets for FTX Europe, FTX Japan, Embed, and LedgerX and also approved a $445 million claim by Alameda Research against Voyager Digital.
• Sam Bankman-Fried and other employees at FTX have been attempting to raise cash after Binance stopped processes to buy the exchange.

FTX Exchange Bankruptcy Proceedings

The bankruptcy proceedings of the FTX exchange have seen many discoveries, rejected pleas, and sales of assets by its sister company Alameda Research and former CEO Sam Bankman-Fried.

Alameda Research Sells Interest In Sequoia Capital

A recent court document revealed an agreement between Alameda Research and N Abu Dhabi sovereign wealth fund to sell Alameda Research’s interest in Sequoia Capital. This deal was worth $45 million and could be finalized if approved by the Delaware bankruptcy judge John Dorsey.

Dorsey Signs Off On Assets Of FTX Europe & Others

Judge John Dorsey has already signed off on assets for FTX Europe, FTX Japan, Embed, and LedgerX along with approving a $445 million claim by Alameda Research against Voyager Digital. These steps were taken so that FTX can recover more than $5 billion in liquid crypto assets and cash from the sale of these assets.

Attempts To Raise Cash By SBF & Employees At FTX

Sam Bankman-Fried and other employees at FTX have been attempting to raise cash after Binance stopped processes to buy the exchange. Reuters reported that SBF had used a weekend in November 2022 to make notable attempts towards raising cash which has yet not seen fruition as of now.

Conclusion

The saga of the FTX exchange continues with various developments such as selling its interest in Sequoia Capital to N Abu Dhabi sovereign wealth fund along with attempts made by SBF & employees at FTX towards raising cash after Binance halted their process of buying out the exchange being reported regularly since its bankruptcy filing last year.