Genesis Digital Assets, a Bitcoin (BTC) mining company backed by Alameda Research and Sam Bankman-Fried, the disgraced founder of FTX, is reportedly considering an initial public offering (IPO) in the US. According to anonymous sources familiar with the matter, the company is working with advisors on the potential listing and planning to launch a pre-IPO funding round in the coming weeks. Genesis Digital Assets started large-scale operations in China in 2014 before the nation banned the entire industry in 2021. The company then raised $550 million and moved to the US. Between 2021 and 2022, Alameda Research invested over $1 billion into Genesis Digital Assets before the collapse of the FTX empire and Bankman-Fried’s conviction for defrauding investors and mishandling billions of dollars worth of customer funds. In April 2022, Genesis Digital Assets was valued at $5.5 billion, but the digital assets industry saw sharp price decreases across the board when FTX collapsed in November 2022.