FTX wants to reclaim VC funds invested in Modulo Capital

Modulo Capital, eine Investmentfirma, die von drei ehemaligen Führungskräften von Jane Street gegründet wurde, hat sich mit einem Antrag der FTX Group auf Rückgabe von VC-Investitionen befasst, die von Alameda Research erhalten wurden. Alte Freunde Die fraglichen Führungskräfte, Xioayun „Lily“ Zhang und Duncan Rheingans-Yoo, waren Sam Bankman-Fried aus seiner Zeit als Angestellter bei Jane Street bekannt und verließen das Unternehmen später, um ihre eigene Investmentfirma zu gründen. Die New York Times hat jedoch zwei bemerkenswerte Dinge über die Firma entdeckt. Erstens scheint Xioayun „Lily“ Zhang laut ungenannten Quellen, die angeblich mit der Angelegenheit vertraut sind, eine romantische Beziehung zu SBF …
Modulo Capital, an investment company founded by three former executives by Jane Street, dealt with an application from the FTX Group to return VC investments received by Alameda Research. Old friends The managers in question, Xioayun "Lily" Zhang and Duncan Rheingans-Yoo, were known to Sam Bankman-Fried from his time as an employee at Jane Street and later left the company to found their own investment company. However, the New York Times has discovered two remarkable things about the company. First, Xioayun “Lily” Zhang, according to undesigned sources, who are supposedly familiar with the matter, seems a romantic relationship with SBF ...
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Modulo Capital, an investment company founded by three former managers by Jane Street, dealt with an application from the FTX Group to return VC investments received by Alameda Research.

old friends

The managers in question, Xioayun "Lily" Zhang and Duncan Rheingans-Yoo, were known to Sam Bankman-Fried from his time as an employee at Jane Street and later left the company to found their own investment company. However, the New York Times has discovered two remarkable things about the company.

Firstly, Xioayun "Lily" Zhang, according to unnamed sources, which are supposedly familiar with the matter, seems to have had a romantic relationship with SBF.

Bankman-Fried's girlfriend? According to four people who are familiar with their relationship, Xiaoyun "Lily" Zhang was formerly a relationship with Bankman-Fried. Her partner, Duncan Rheingans-Yoo, had only graduated in Harvard two years before SBF's investment. This is textbook

- 9:29 (@Guitarsuncat) 25. January 2023

Secondly, modulo Capital seems to have been almost completely financed by the FTX Group. According to the same report from NYT, Modulo started trading with cryptocurrency before the collapse of FTX and has now practically stopped operating.

two round start -up capital

Although the FTX Group's crypto investment check book is a mess that the new CEO is still trying to turry, the investment records from FTX VC are far more clear on the basis of the reporting obligations. According to the Financial Times, the FTX Group made two separate investments with Modulo Capital and initially promised $ 150 million, which quickly followed a further $ 250 million.

The current Clawback application, however, aims at the number of $ 475 million. In addition, court documents indicate that the repayment of this sum, assuming that the deal is approved by the judge, which leads the bankruptcy of FTX, almost completely wipe out the capital of Modulo.

"The accession of the debtors for the agreement is in the best interest of their discounts, creditors and interest groups and should be carried out quickly. The conditions of the agreement will give the debtors' estates a significant value, the 99 % of the remaining assets of the module units and 97 % of the original transmission from the Alameda debtors to the module units (after taking out output and Commercial losses). “

This statement gives the above the theory credibility that modulo capital was almost completely financed by the FTX Group.

The management of modulo allegedly approved the conditions of the Clawback, which would save both sides to deal with legal costs. In return, the FTX Group would do without all requirements for Modulo Capital shares.

FTX currently owes its creditors over $ 11 billion. If the deal is approved, the funds paid by Modulo would cover about 7 % of the shortfall. Future applications will probably follow because the FTX Group has already tried to take similar measures against Voyager and have announced their intention to pursue donations to political candidates.

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Modulo Capital, eine Investmentfirma, die von drei ehemaligen Führungskräften von Jane Street gegründet wurde, hat sich mit einem Antrag der FTX Group auf Rückgabe von VC-Investitionen befasst, die von Alameda Research erhalten wurden. Alte Freunde Die fraglichen Führungskräfte, Xioayun „Lily“ Zhang und Duncan Rheingans-Yoo, waren Sam Bankman-Fried aus seiner Zeit als Angestellter bei Jane Street bekannt und verließen das Unternehmen später, um ihre eigene Investmentfirma zu gründen. Die New York Times hat jedoch zwei bemerkenswerte Dinge über die Firma entdeckt. Erstens scheint Xioayun „Lily“ Zhang laut ungenannten Quellen, die angeblich mit der Angelegenheit vertraut sind, eine romantische Beziehung zu SBF …
Modulo Capital, an investment company founded by three former executives by Jane Street, dealt with an application from the FTX Group to return VC investments received by Alameda Research. Old friends The managers in question, Xioayun "Lily" Zhang and Duncan Rheingans-Yoo, were known to Sam Bankman-Fried from his time as an employee at Jane Street and later left the company to found their own investment company. However, the New York Times has discovered two remarkable things about the company. First, Xioayun “Lily” Zhang, according to undesigned sources, who are supposedly familiar with the matter, seems a romantic relationship with SBF ...

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