According to a lawsuit filed by the US Securities and Exchange Commission (SEC) against two of Sam Bankman-Fried’s associates, Carolyn Ellison and Gary Wang, who are cooperating with the lawsuit against Bankman-Fried in New York, in the last year the exchange’s investment fund, FTX Ventures, invested 200 $1 million in two fintech companies – the first was Dave, in which the fund invested $100 million in March, two months after it was issued on the stock exchange in a merger with a SPAC (an open check company); and the second was Mysten Labs, a blockchain-based application company in which the fund invested $100 in September million dollars, in a round in which the crypto exchanges Binance and Coinbase also participated, together with the crypto fund of the investment giant Andreessen-Horwitz, who invested a total of 300 million dollars according to a valuation of 2 billion.
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These are not the only investments of the fund from FTX, but these are its two largest investments, out of the 2 billion dollars it managed in total – and are now suspected to be money that came as ‘loans’ from investors’ money in the stock market.