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As SpaceX's stock price soars, FTX's return on its investment in SpaceX could reach tens of billions of dollars
Svmuu News: With SpaceX’s market capitalization exceeding $2.5 trillion following its IPO last week, creditors of the bankrupt cryptocurrency exchange FTX may stand to benefit. Before FTX’s collapse in 2022, it had invested $190 million in SpaceX through a fund managed by venture capital firm K5 Global. Sunil Kavuri, a representative of the creditors, stated that based on SpaceX’s current market capitalization, FTX’s exposure to SpaceX could be worth billions of dollars. Previously, John J. Ray III, CEO of FTX Recovery Trust, stated that the performance of the joint investment with K5 Global would be a key driver in the effort to recover assets. (Decrypt)
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