Just Like #FTX, FTX Ventures Went Big — And Fast — When It Came To Investing

The wreckage from FTX's reckless VC investing should be a lesson for all.

Just Like FTX, FTX Ventures Went Big — And Fast — When It Came To Investing

Chris Metinko4-5 minutes 15/11/2022

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While everyone is still sifting through the immediate FTX wreckage, there is a good chance more decimated debris is on the way.

Along with trying to be a white knight to companies such as Voyager Digital and lender BlockFi, Sam Bankman-Fried and his company also made their way to the venture world early this year.

FTX Ventures announced its first $2 billion funding in January and quickly made nearly 50 different investments from the new venture arm, according to Crunchbase data. Those rounds in total raised nearly $3 billion for burgeoning startups, with FTX Ventures leading some of the biggest of those deals.

Today’s Inflation Debacle has Been Years in the Making

Private Equity Pay ‘dwarfs’ sums on offer to investment bankers

 "I can't think of anything legal that is as good a business model." 

Top private equity firms set aside more than twice as much to pay each employee last year than leading investment banks, underscoring the shift of power and money towards the less regulated corner of Wall Street. 

Flush with profits from buoyant equity markets, Blackstone, KKR and Carlyle Group earmarked $2mn in total pay and benefits per employee in 2021, according to calculations by the Financial Times. That figure was at least twice as high as the per-employee amount set aside at Goldman Sachs, Morgan Stanley and the corporate and investment banking arm of JPMorgan Chase, which have much larger headcounts.

“Checklist for a super bubble running through its phases is now complete and the wild rumpus can begin at any time” says #GMO’s Jeremy Grantham

Jeremy Grantham Doubles Down on Crash Call, Says Selloff Has Started 

Calculates losses in U.S. alone may reach $35 trillion!

"Checklist for a super bubble running through its phases is now complete and the wild rumpus can begin at any time," Grantham, 83, writes in his note. "When pessimism returns to markets, we face the largest potential markdown of perceived wealth in U.S. history."