As of now, FTX CEO Sam Bankman-Fried owns 11% of Voyager Digital, making him the sole shareholder.
On June 22, Voyager announced a $200 million and $15,000 Bitcoin loan from Alameda Ventures. On June 17, it issued a "early warning" notice that Sam Bankman-Fried had purchased 14,957,265 shares personally.
Sam Bankman-Fried owns an 11% stake in Voyager.
According to the report,
“Following the acquisition of the Acquired Shares, the Acquiror together with its affiliate own an aggregate of 22,681,260 Shares, representing approximately 11.56% of the outstanding Shares.”
SBF is now the largest single shareholder of Voyager Digital shares, thanks to the purchase and his "affiliate" ownership through Alameda Ventures. The next largest institutional holder, according to Yahoo Finance, is Banc Funds Company, with 417,315 shares (0.21 percent), and the largest mutual fund is Amplify Transformational Data Sharing ETF, with 2,846,322 shares (1.45 percent .)
The total number of institutional shares reported is only 8.21% of the float, implying that SBF owns more shares than all other institutions combined. The current free float of shares is 60 million, with 195 million shares outstanding. SBF and Alameda Ventures now own more than one-third of the current float, with 22.6 million shares.
Other SBF cryptocurrency investments
SBF already owns 7.8 percent of Robinhood, a platform that trades traditional stocks as well as cryptocurrency. BlockFi, a cryptocurrency wallet and lending platform, recently received a $250 million loan from FTX. Because BlockFi is currently a privately held company, it is only required to report shareholders with a stake of more than 10% in SEC filings. As a result, it is unknown whether SBF was given equity in exchange for this arrangement. According to another SEC filing, SBF owns 8.4 percent of Bitwise Crypto Index Fund, an index of the top ten cryptocurrencies.
SBF appears to be interested in acquiring a stake in a number of other cryptocurrency exchanges. Alameda Ventures and SBF are listed in Voyager as "insiders," as defined by Investopedia.
“someone with either access to valuable non-public information about a corporation or ownership of stock equaling more than 10% of a firm’s equity.”
Given SBF's role as CEO of FTX and his substantial investment in Robinhood, there may be concerns about non-public information available to him. He has been accused of Bitcoin and other cryptocurrency manipulation in the past. Because insider trading is defined as "the illegal use of non-public material information for profit," SBF can legally own shares on competing exchanges. There is no evidence that SBF violated any laws by purchasing shares in exchange for offering lines of credit to struggling cryptocurrency companies.
