Is genesis block integrating FTX and Alameda?

Two people familiar with Genesis Block operations described the company, which also ran a network of bitcoin ATMs across Asia, as being integrated into FTX and Alameda. Genesis Block also offered alternative coins to customers, said two other people with knowledge of the company.

What happened to genesis block?

Genesis Block, which at one time operated one of Asia's biggest bitcoin ATM networks, said it would be closing down its over-the-counter trading portal on Dec. 10, according to an email to customers sent by its compliance department reviewed by Reuters.

Where did Bankman-fried meet genesis block executives?

Bankman-Fried met Genesis Block executives in 2018 on a trip to Macau, a city near Hong Kong that rivals Las Vegas as the world’s biggest gambling hub. Links between Genesis Block and FTX ran deep. Alameda Ventures, a subsidiary of the eponymous trading firm, took a stake in 2020.

Why did genesis block take FTX's native FTT tokens?

Genesis Block had such belief in FTX that it took the company’s native FTT tokens as part of the payment for equity, people familiar with the matter said. The FTT tokens were an important part of FTX’s liquidity crunch because they were used as collateral for loans but turned out to be worth nothing.