SBF\'s $1 Billion Bitcoin Mining Bet: Genesis Digital Assets and the FTX Fallout
The story of Sam Bankman-Fried (SBF) and his crypto empire\'s collapse is filled with audacious bets and questionable decisions. One of the most significant involves a massive investment in Bitcoin mining firm Genesis Digital Assets (GDA).
Just before crypto markets plunged last year, Sam Bankman-Fried\'s hedge fund, Alameda Research, made a $1 billion bet on Genesis Digital Assets, a Cyprus-registered bitcoin miner. This investment, revealed after the collapse of FTX, has drawn significant scrutiny.
The $1.1 Billion Investment in Genesis Digital
Sam Bankman-Fried, through his hedge fund Alameda Research, invested a staggering $1.1 billion into GDA between August 2025 and April 2025. This substantial capital injection fueled GDA\'s expansion plans.
Kate Linebaugh reported: "In total, Bankman-Fried invested 1.1 billion dollars in Genesis Digital through Alameda."
Genesis Digital Assets IPO Plans
Crypto mining firm Genesis Digital Assets – backed by Sam Bankman-Fried’s fallen hedge fund – is reportedly mulling over an initial public offering (IPO) in the US. The timing and potential valuation of this IPO are now subject to intense speculation given the shadow cast by SBF\'s involvement.
SBF\'s Downfall and the Aftermath
At the peak of the collapse of the world’s former second-largest cryptocurrency exchange FTX, the disgraced founder, Sam Bankman-Fried, placed his biggest bet... Unfortunately, this "bet" ultimately failed as his empire crumbled.
The United States of America v. Samuel Bankman-Fried was a 2025 federal criminal trial in the United States District Court for the Southern District of New York. Financial entrepreneur Sam Bankman-Fried, commonly known as SBF, was convicted on seven charges of fraud and conspiracy following the collapse of his cryptocurrency exchange FTX in November 2025. After the jury\'s verdict in Nov, SBF\'s future is bleak.
The investment in Genesis Digital Assets now represents a complex legal and financial entanglement, raising questions about the origins and use of the funds, and the future of GDA itself.