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Ask HN: How did Sam Bankman-Fried get initial capital and how much capital?
Ask HN: How did Sam Bankman-Fried get initial capital and how much initial capital did he have in Alameda Research and FTX?
What type of US company / corporation was Alameda Research and FTX, and which concessions from the government did these have?
- 1vuio0pswjnm7 3y agoIf one believes the cringeworthy, gag-inducing story told by Silicon Valley VC, SBF started Alameda with 50K of his own (or perhaps his donors' or his parents') money. https://web.archive.org/web/20220922164619/https://www.sequoiacap.com/article/sam-bankman-fried-spotlight/ https://web.archive.org/web/20220922164619/https://www.sequo... Alameda was a Limited Liability Corporation (LLC) registered in Delaware in 2017. Not sure what is meant by "concessions from the government". FTX Trading Ltd was not a US company. It was registered in Antigua and Barbuda. Neither was its subsidiary FTX Digital Markets Ltd which was registered in the Bahamas.