FTX’s Odd Relationship With Vertical Farming Firms — A Look at Exchange Boss Ryan Salame’s and Bahamian PM Philip Davis’ Trip to 80 Acres

After discovering that 10 holding firms associated with FTX Digital and Alameda Research invested astir $5.4 cardinal into astir 500 firms and projects, radical person been funny astir a fewer circumstantial investments. One circumstantial concern made by FTX Ventures Ltd. was for $25 cardinal into the Ohio-based steadfast 80 Acres, a institution that specializes successful vertical farming. It seems that 80 Acres Farms was partnered with a Bahamian hydroponic shaper called Eeden Farms, and Ryan Salame, the co-chief enforcement serviceman of FTX Digital Markets, toured 80 Acres workplace successful Ohio with the Bahamian premier curate Philip Davis.

A Look astatine the Ties Between FTX Ventures, FTX Co-Chief Executive Officer Ryan Salame, and 2 Specific Vertical Farm Companies

The Financial Times (FT) precocious published documents that amusement 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 successful companies that were not related to the crypto and the blockchain industry.

Now radical mightiness wonderment wherefore a cryptocurrency firm, and much specifically FTX Ventures Ltd., invested successful a institution that grows nutrient utilizing hydroponics successful vertically stacked layers. It’s not wholly wide why, but it is nationalist cognition that Ryan Salame, the co-chief enforcement serviceman of FTX Digital Markets, visited the company’s workplace successful January 2022.

As the Government remains committed to the advancement of the Green Economy successful The Bahamas, Prime Minister Davis and Honorable Clay Sweeting precocious 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, successful January 2022, Salame and the Bahamian premier curate Philip Davis toured 80 Acres Farms with the Bahamian curate of agriculture Clay Sweeting, and the owners of a Bahamian hydroponic steadfast called Eeden Farms. Tribune concern exertion Neil Hartnell explained 80 Acres workplace successful Ohio was to service arsenic a exemplary for Eeden Farms connected Nassau’s Gladstone Road.

80 Acres is an Eeden Farm spouse and this year, the Bahamian hydroponic shaper rebranded its workplace to Eeden Acres connected Jan. 24, 2022. Hartnell elaborate that authorities officials from Ohio were besides contiguous connected the 80 Acres tour, alongside executives from Sysco Bahamas. As acold arsenic the Bahamas was concerned, Hartnell explained that Eeden and 80 Acres would “invest $60m successful processing a 71,000 quadrate ft installation capable to turn ‘300 times much food’ than a accepted farm.”

Furthermore, Salame reportedly gave $22 cardinal to Republicans for the 2022 midterm predetermination cycle, according to opensecrets.org data. Salame, a Sandisfield Massachusetts native, was known for being a large spender arsenic helium owned 4 restaurants and astir six properties successful Lenox, according to The Berkshire Eagle. It’s not wholly known what narration FTX Ventures and Salame had with 80 Acres, but it seems Salame was rather progressive with Eeden Acres’ and 80 Acres’ ventures.

Eeden Farms’ website is presently down and the company’s societal media pages person not posted successful a agelong time. On Instagram, Eeden’s past station was successful June 2021, connected Facebook Eeden’s last posts were published that aforesaid month, and Eeden’s past station connected Twitter was successful February 2022.

On the company’s Facebook page, Eeden’s leafage sanction is called Eeden Acres, and it shows 3D mock-up photos of an Eeden Acres gathering with a extortion afloat covered successful star panels. Eeden’s co-founder Lincoln Deal recently talked astir “the disruptive changes successful the cultivation industry” astatine the University of The Bahamas, the aforesaid time FTX’s fiscal troubles ensued.

During his interview with Mario Nawfal’s Twitter Spaces crew, FTX co-founder Sam Bankman-Fried admitted that withdrawals to Bahamian residents took spot earlier FTX afloat collapsed, and perchance connected 2 occasions. In a two-part interrogation with Tiffany Fong (here and here), SBF explained FTX execs codified the Bahamian withdrawals due to the fact that helium did not privation to reside connected an land with aggravated residents.

What bash you deliberation astir the connections betwixt FTX Ventures, Ryan Salame, Eeden Farms, and 80 Acres Farms? Why bash you deliberation the co-chief of a crypto speech would sojourn a vertical workplace works successful Ohio with The Bahamas’ PM? Let america cognize what you deliberation astir this taxable successful the comments conception below.

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