DOMINOS ANYONE?

Crossville TN

Description

Sam Bankman-Fried's hedge fund Alameda Research lists Jimmy Buffett's Margaritaville Resort in the Bahamas and Amazon Web Services as two of the largest creditors it owes money to, according to bankruptcy filings. The Margaritaville Beach Resort in Nassau, Bahamas, is the fourth-largest creditor owed money by Alameda, as bankruptcy filings indicate Alameda owed the resort a debt of $55,319. Bankman-Fried and Ellison have faced withering criticism in the wake of FTX and Alameda entering bankruptcy, as their failure created a contagion in the crypto space that has dragged several other firms into bankruptcy. Amazon Web Services is the largest creditor listed in the bankruptcy filing and is owed $4,664,996 by Alameda. AWS is a subsidiary of Amazon that provides cloud computing platforms and APIs to clients. Another notable creditor owed money by Alameda is Bloomberg Finance LP, which is owed $80,526 and ranks as the third-largest creditor. Bloomberg Finance provides commercial services, including financial software and data. Forty corporations invested in companies in the blockchain/crypto space during this time. Samsung is the most active, having invested in 13 companies. UOB came in next with 7 investments, followed by Citigroup with 6 investments, and Goldman Sachs with 5. In most cases, we cannot determine how much money these corporations have invested, as they participate in funding rounds with multiple or many other investors. As a proxy of this, we can look at the total funding amounts of the rounds they participated in. Based on this, the investors active in the biggest funding rounds are Alphabet ($1,506M in 4 rounds), Blackrock ($1,171M in 3 rounds), Morgan Stanley ($1,10M in 2 rounds), Samsung ($979M in 13 rounds), Goldman Sachs ( $698M in 5 rounds, BNY Mellon ($690M in 3 rounds), and PayPal ($650M in 4 rounds). The 40 companies invested approximately $6B into blockchain startups between September 2021 and June 2022. Because some rounds involve participation from multiple investors, it is unclear how much each company invested in a project. Neither Amazon Web Services nor Bloomberg Financial responded to Fox Business' request for comment about the nature of the debts owed to the companies by Alameda. Other creditors listed in Alameda's bankruptcy documents include several law firms located across the U.S. and in Australia, England, Panama, and South Korea.