Lookzy: all your daily legal news in 0.1 billable hours. Litigation, deals, lateral moves and industry news; we cover it all.

Welcome to Lookzy. In today's Lookzy:

• A breakdown of all of Alameda Research's venture bets

• Details on SBF hiring El Chapo's lawyer

• Some great funding deals and some downrounds

• Someone wants to fire Larry Fink as BlackRock CEO

HOW TO BURN $5.4 BILLION IN VENTURE

The FT published all of the venture investments made by Alameda Research, Sam Bankman-Fried's hedge fund. Let's break down the portfolio.

Alameda Research invested nearly $5.4 billion across nearly 500 investments.

The five largest aggregate investments are Genesis Digital Assets (a Bitcoin mining operation), Anthropic (an AI research company), Digital Assets DA AG (a token issuer), K5 (a VC firm) and IEX (a stock exchange). More than $1 billion was invested in Genesis Digital Assets alone.

Through Alameda's heavy investment in K5, the silicon valley venture capital firm, Alameda had exposure to SpaceX and the Boring Company.

As may be evident from the above list of names, there's no clear investing thesis within this massive portfolio. Beyond the above, other areas of investment included game studios, betting platforms, online banks, publishers, a fertility clinic, a military drone maker and a vertical farming company.

Want to do your own deep dive? Twitter sleuths broke down those investments into this searchable Google sheet; have a gander.

ECON SNAPSHOT

The difference between special bonuses and layoffs.

THE VERDICT

Arguing today's litigation news

When you need El Chapo's lawyer. FTX founder and former CEO Sam Bankman-Fried hired former prosecutor Mark S. Cohen of Cohen & Gresser to represent him. Cohen recently defended Ghislaine Maxwell in her sex trafficking trial and defended El Chapo prior to that. SBF was previously represented by Martin Flumenbaum of Paul Weiss, but the law firm last month dropped out due to "conflicts".

Pharma win. Pharmaceutical companies GSK, Pfizer, Sanofi and Boehringer Ingelheim won thousands of lawsuits in U.S. federal court claiming that the heartburn drug Zantac caused cancer, as a judge found the claims were not backed by science. The companies still face thousands of similar lawsuits.

Bribery & conflicts. Federal judge Kevin McNulty refused to allow the former GC of Cognizant Technology Solutions Corp to exclude Alston & Bird from representing the company as it faces a bribery trial. However, the judge left open the possibility that former GC Steven Schwartz could ask witnesses about an hours-long meeting attended by Schwartz, one of his lawyers and an Alston & Bird partner.

Apple antitrust. The US Court of Appeals for the Federal Circuit affirmed without comment a Delaware federal court’s decision to dismiss a lawsuit by app maker Blix against Apple in which Blix accused Apple of copying Blix's single sign-on (SSO) system technology.

Trump news. A New York state jury on Tuesday convicted two Trump Organization companies of a $1.76 million tax fraud conspiracy involving their longtime CFO Allen Weisselberg.

THE DEAL

Wheelin' and dealin' today's corporate news

Home run. Fanatics Inc., the sports merchandising company, raised approximately $700 million in a new funding round at a $31 billion post-money valuation. Clearlake, Silver Lake and SoftBank were some of the big investors in the round.

IPOs still exist. Vietnamese luxury electric vehicle maker VinFast filed its F-1 registration statement to go public and list on Nasdaq. Latham and Skadden are representing VinFast and the underwriters, respectively.

Barbarians at BlackRock. Activist investor Bluebell Capital Partners Ltd. took a position in BlackRock Inc. and released a public letter to the board, calling for Larry Fink be replaced as CEO as well as other changes to the board and the company's ESG strategy. Bluebell reportedly owns 0.01% of BlackRock, which has a $106.7 billion market cap.

Second grocery request. Continuing our coverage of grocery M&A, the FTC issued a 'second request' for antitrust review of the proposed Kroger Co. and Albertsons combination.

Crypto downrounds. Blockchain infrastructure company Blockstream is reportedly seeking to raise money at a <$1 billion valuation, a significant downround to the company's 2021 round valuing it at $3.2 billion.

BUSINESS OF THE FIRM

Lateral Moves: 

• Kevin Chambers, a DOJ official who oversaw COVID-19 fraud enforcement, is rejoining Latham.

• White & Case hired Ian Ivory, the co-leader of Bryan Cave Leighton Paisner’s global private equity practice.

• Jones Day hired SEC Fort Worth regional director David Peavler.

• James Durkin, a federal prosecutor who successfully went after several corrupt Illinois politicians, rejoined McDermott as a partner.

BOILERPLATE

Alright, back to billing. That's all, folks!