After discovering that ten holding firms associated with FTX Digital and Alameda Research invested roughly $5.4 billion into nearly 500 firms and projects, people have been curious about a few specific investments. One specific investment made by FTX Ventures Ltd. was for $25 million into the Ohio-based firm 80 Acres, a company that specializes in vertical farming. It seems that 80 Acres Farms was partnered with a Bahamian hydroponic producer called Eeden Farms, and Ryan Salame, the co-chief executive officer of FTX Digital Markets, toured 80 Acres farm in Ohio with the Bahamian prime minister Philip Davis.
A Look at the Ties Between FTX Ventures, FTX Co-Chief Executive Officer Ryan Salame, and 2 Specific Vertical Farm Companies
The Financial Times (FT) recently published documents that show FTX Digital’s and Alameda Research’s portfolio of investments, which adds up to a whopping $5.4 billion. Among the hundreds of investments, FTX and Alameda invested in companies that were not related to the crypto and the blockchain industry.
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Documents released by the Financial Times (FT) indicate that FTX Ventures invested $25 million into the company 80 Acres Farms. There’s no specific date that mentions when this investment occurred. In August 2021, 80 Acres Farms raised $160 million in a Series B funding round led by General Atlantic and joined by Siemens Financial Services. One of those investments was 80 Acres Farms, a vertical farming company that provides produce to grocery stores like The Fresh Market, Kroger, and Whole Foods. The two co-founders of 80 Acres were recently featured in a BBC “Follow the Food” segment.
Now people might wonder why a cryptocurrency firm, and more specifically FTX Ventures Ltd., invested in a company that grows produce using hydroponics in vertically stacked layers. It’s not entirely clear why, but it is public knowledge that Ryan Salame, the co-chief executive officer of FTX Digital Markets, visited the company’s farm in January 2022.
As the Government remains committed to the advancement of the Green Economy in The Bahamas, Prime Minister Davis and Honorable Clay Sweeting recently toured the flagship 70K Farm owned by 80 Acres Farms.
Read the Prime Minister’s remarks here: https://t.co/eST1lnLcQo 1/2 pic.twitter.com/SrskJoI6gl
— Office of The Prime Minister The Bahamas (@opmthebahamas) January 25, 2022
According to The Tribune, in January 2022, Salame and the Bahamian prime minister Philip Davis…
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