Bitcoin mining company backed by FTX founder Sam Bankman-Fried is exploring the possibility of an initial public offering (IPO) in the United States. Bloomberg reports that Genesis Digital Assets, supported by Alameda Research, is working with advisors on a potential U.S. listing. Founded in 2014, the company began large-scale operations in China but moved to the U.S. after the 2021 cryptocurrency ban. Between 2021 and 2022, Alameda Research invested over $100 million in Genesis Digital Assets before the collapse of FTX and Bankman-Fried’s subsequent legal troubles. Read more: 
Blockchain company Gala Games announces partnership with Animoca Brands According to an internal company memo, in May 2022, Genesis Digital Assets was valued at $5.5 billion. However, the collapse of FTX in November 2022 led to significant drops in prices and valuations across the digital asset space. Despite challenges, Genesis Digital Assets continues to forge ahead, planning to launch a pre-funding round in the coming weeks, highlighting its resilience and commitment to growth in the cryptocurrency sector. 
Genesis Digital Assets Another Bitcoin Mining Giant Rumored to Go Public in the US 