FTX's Alameda Research Secures Deal to Sell Sequoia Interest to Abu Dhabi for $45M

Alameda Research, the investment arm of bankrupt crypto exchange FTX, has agreed to sell its interest in Sequoia Capital to the Abu Dhabi sovereign wealth fund for $45 million. The sale is subject to approval by a Delaware bankruptcy court, as FTX seeks to sell its investments in early-stage tech and crypto ventures to repay creditors. The deal is expected to close by March 31, but bankrupt companies’ deals are subject to close judicial scrutiny. FTX filed for bankruptcy in November, and the sale of Sequoia assets is part of its efforts to raise funds for creditors.