TL;DR
- FTX held assets valued at $65 billion before its collapse, including Solana and FTT tokens.
- The portfolio included strategic investments in companies like SpaceX and Anthropic, indicating significant growth potential.
- Creditors will only receive compensation based on November 2022 valuations, missing out on subsequent market gains.
The bankruptcy of FTX in November 2022 left a significant void in the cryptocurrency market. However, recent reports reveal that before its collapse, the platform had assets estimated at around $65 billion. These assets included major holdings in cryptocurrencies like Solana (SOL) and FTX Token (FTT), along with strategic investments in emerging companies such as SpaceX and Anthropic. With a business valuation of $40 billion, FTX had massive growth potential, which was abruptly cut short by its collapse. This has led to speculation about how much these investments could have appreciated if the company had survived.
What Does Market Recovery Mean for FTX’s Assets?
FTX’s pre-bankruptcy asset portfolio was primarily composed of cryptocurrencies, including 55 million Solana tokens valued at $11 billion and 280 million FTT tokens worth $5 billion. In addition, the company held stakes in promising tech projects like Anthropic, valued at $4.2 billion, and SUI tokens worth $3.2 billion. These investments could have been worth much more if held during the market’s recovery, especially considering the booming interest in Web3 technologies and blockchain innovations. The market’s potential to bounce back further fuels hopes of recovering more of FTX’s lost value.
Despite FTX’s collapse, the cryptocurrency market has shown signs of recovery. Recently, the FTT token has seen a significant rebound, reaching $2.09, a substantial improvement compared to its plummet during the FTX crisis. This rebound, while not directly tied to creditor compensation, reflects how positive news about the company’s recovery can influence the market, generating optimism. Investors are watching the market closely to see if FTX can regain some of its previous value, signaling a possible resurgence for the platform.
On February 18, 2025, FTX will begin compensating creditors, starting with those with claims under $50,000. However, the compensation will be based on cryptocurrency prices from November 2022, meaning creditors will not benefit from subsequent price increases, such as Bitcoin’s rise to $100,000. Despite these limitations, creditors are expected to recover up to 118% of their investments, which has sparked hope for partial recovery and could help restore confidence in FTX.
