{"id":15281,"date":"2022-12-08T20:37:49","date_gmt":"2022-12-08T20:37:49","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/ftxs-odd-relationship-with-vertical-farming-firms-a-look-at-exchange-boss-ryan-salames-and-bahamian-pm-philip-davis-trip-to-80-acres-bitcoin-news\/"},"modified":"2022-12-08T20:37:49","modified_gmt":"2022-12-08T20:37:49","slug":"ftxs-odd-relationship-with-vertical-farming-firms-a-look-at-exchange-boss-ryan-salames-and-bahamian-pm-philip-davis-trip-to-80-acres-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/ftxs-odd-relationship-with-vertical-farming-firms-a-look-at-exchange-boss-ryan-salames-and-bahamian-pm-philip-davis-trip-to-80-acres-bitcoin-news\/","title":{"rendered":"FTX\u2019s Odd Relationship With Vertical Farming Firms \u2014 A Look at Exchange Boss Ryan Salame\u2019s and Bahamian PM Philip Davis\u2019 Trip to 80 Acres \u2013 Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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After discovering that ten holding firms associated with FTX Digital and Alameda Research invested roughly $5.4 billion into nearly 500 firms and projects, people have been curious about a few specific investments. One specific investment made by FTX Ventures Ltd. was for $25 million into the Ohio-based firm 80 Acres, a company that specializes in vertical farming. It seems that 80 Acres Farms was partnered with a Bahamian hydroponic producer called Eeden Farms, and Ryan Salame, the co-chief executive officer of FTX Digital Markets, toured 80 Acres farm in Ohio with the Bahamian prime minister Philip Davis.<\/strong><\/p>\n

A Look at the Ties Between FTX Ventures, FTX Co-Chief Executive Officer Ryan Salame, and 2 Specific Vertical Farm Companies<\/h2>\n

The Financial Times (FT) recently published<\/a> documents that show FTX Digital\u2019s and Alameda Research\u2019s portfolio of investments, which adds up to a whopping $5.4 billion. Among the hundreds of investments, FTX and Alameda invested in companies that were not related to the crypto and the blockchain industry.<\/p>\n

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Documents released by the Financial Times (FT) indicate that FTX Ventures invested $25 million into the company 80 Acres Farms. There\u2019s no specific date that mentions when this investment occurred. In August 2021, 80 Acres Farms raised $160 million in a Series B funding round led by General Atlantic and joined by Siemens Financial Services.<\/figcaption><\/figure>\n

One of those investments was 80 Acres Farms<\/a>, a vertical farming company that provides produce to grocery stores like The Fresh Market, Kroger, and Whole Foods. The two co-founders of 80 Acres were recently featured<\/a> in a BBC \u201cFollow the Food\u201d segment.<\/p>\n<\/dt>\n<\/dl>\n<\/div>\n

Now people might wonder why a cryptocurrency firm, and more specifically FTX Ventures Ltd., invested in a company that grows produce using hydroponics in vertically stacked layers. It\u2019s not entirely clear why, but it is public knowledge that Ryan Salame, the co-chief executive officer of FTX Digital Markets, visited the company\u2019s farm in January 2022.<\/p>\n

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As the Government remains committed to the advancement of the Green Economy in The Bahamas, Prime Minister Davis and Honorable Clay Sweeting recently toured the flagship 70K Farm owned by 80 Acres Farms.<\/p>\n

Read the Prime Minister\u2019s remarks here: https:\/\/t.co\/eST1lnLcQo<\/a> 1\/2 pic.twitter.com\/SrskJoI6gl<\/a><\/p>\n

\u2014 Office of The Prime Minister The Bahamas (@opmthebahamas) January 25, 2022<\/a><\/p>\n<\/blockquote>\n

According to The Tribune, in January 2022, Salame and the Bahamian prime minister Philip Davis toured 80 Acres Farms<\/a> with the Bahamian minister of agriculture Clay Sweeting, and the owners of a Bahamian hydroponic firm called Eeden Farms. Tribune business editor Neil Hartnell explained 80 Acres farm in Ohio was to serve as a model for Eeden Farms on Nassau\u2019s Gladstone Road.<\/p>\n

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A 3D mock-up image of Eeden Acres shared on the company\u2019s Facebook page. At the time of writing (Dec. 8, 2022), Eeden\u2019s website is down, it doesn\u2019t have a security certificate, and the company\u2019s social media pages have not posted in well over a year.<\/figcaption><\/figure>\n<\/p>\n<\/dt>\n<\/dl>\n<\/div>\n

80 Acres is an Eeden Farm partner and this year, the Bahamian hydroponic producer rebranded<\/a> its farm to Eeden Acres on Jan. 24, 2022. Hartnell detailed that government officials from Ohio were also present on the 80 Acres tour, alongside executives from Sysco Bahamas. As far as the Bahamas was concerned, Hartnell explained that Eeden and 80 Acres would \u201cinvest $60m in developing a 71,000 square foot facility able to grow \u2018300 times more food\u2019 than a traditional farm.\u201d<\/p>\n

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A photograph of the Bahamian prime minister Philip Davis, the Bahamian minister of agriculture Clay Sweeting, FTX co-chief executive officer Ryan Salame, and a handful of others who toured 80 Acres Farms in January 2022.<\/figcaption><\/figure>\n

Lincoln Deal, Eeden Farms\u2019 co-founder, told The Tribune that the land for the farm \u201cis in hand.\u201d A few months prior to the Cincinnati 80 Acres farm tour, FTX relocated its headquarters from Hong Kong to The Bahamas in September 2021. The documents FT published this week show that 80 Acres received $25 million from FTX Ventures in an equity investment.<\/p>\n<\/dt>\n<\/dl>\n<\/div>\n

Furthermore, Salame reportedly<\/a> gave $22 million to Republicans for the 2022 midterm election cycle, according to opensecrets.org data. Salame, a Sandisfield Massachusetts native, was known for being a big spender as he owned four restaurants<\/a> and roughly six properties in Lenox, according to The Berkshire Eagle. It\u2019s not entirely known what relationship FTX Ventures and Salame had with 80 Acres, but it seems Salame was quite involved with Eeden Acres\u2019 and 80 Acres\u2019 ventures.<\/p>\n

Eeden Farms\u2019 website is currently down and the company\u2019s social media pages have not posted in a long time. On Instagram<\/a>, Eeden\u2019s last post was in June 2021, on Facebook Eeden\u2019s last posts<\/a> were published that same month, and Eeden\u2019s last post on Twitter was in February 2022.<\/p>\n

On the company\u2019s Facebook page, Eeden\u2019s page name is called Eeden Acres, and it shows 3D mock-up photos<\/a> of an Eeden Acres building with a roof fully covered in solar panels. Eeden\u2019s co-founder Lincoln Deal recently talked<\/a> about \u201cthe disruptive changes in the agricultural industry\u201d at the University of The Bahamas, the same day FTX\u2019s financial troubles ensued<\/a>.<\/p>\n

During his interview<\/a> with Mario Nawfal\u2019s Twitter Spaces crew, FTX co-founder Sam Bankman-Fried admitted that withdrawals to Bahamian residents took place before FTX fully collapsed, and possibly on two occasions. In a two-part interview with Tiffany Fong (here<\/a> and here<\/a>), SBF explained FTX execs codified the Bahamian withdrawals because he did not want to reside on an island with angry residents.<\/p>\n

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\nTags in this story
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$25 million<\/a>, 80 Acres Farms<\/a>, Alameda Investments<\/a>, bahamas<\/a>, Bahamian minister of agriculture<\/a>, Bahamian prime minister<\/a>, Clay Sweeting<\/a>, Co-Chief Salame<\/a>, Eeden Acres<\/a>, Eeden Farms<\/a>, Farm<\/a>, financial times<\/a>, FT<\/a>, FTX collapse<\/a>, FTX digital markets<\/a>, FTX Farming<\/a>, Investing Vertical Farms<\/a>, investment<\/a>, Neil Hartnell<\/a>, Ohio<\/a>, Philip Davis.<\/a>, Republicans<\/a>, Ryan Salame<\/a>, Sandisfield Massachusetts<\/a>, Tribune business editor<\/a>, vertical farm<\/a><\/div>\n<\/div>\n

What do you think about the connections between FTX Ventures, Ryan Salame, Eeden Farms, and 80 Acres Farms? Why do you think the co-chief of a crypto exchange would visit a vertical farm plant in Ohio with The Bahamas\u2019 PM? Let us know what you think about this subject in the comments section below.<\/strong> <\/em><\/p>\n

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\nJamie Redman <\/h6>\n

\nJamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

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Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n

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Disclaimer<\/strong>: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com<\/a> does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.<\/p>\n<\/div>\n

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