It has been over a year since the defunct crypto exchange FTX filed for bankruptcy and over a month since its founder, Sam Bankman-Fried (SBF), was convicted. However, crypto enthusiasts (including SBF possibly) cannot help but wonder how profitable the company could have been if things turned out differently.
How Much FTX’s Assets Will Be Worth Now
According to a report by Blockworks, FTX’s assets would be worth almost $9.6 billion if the crypto exchange had survived to see the resurgence in the crypto market. This projection is based on the exchange’s balance sheet, which Bankman-Fried himself drew out and was later shared by the Financial Times.
Blockwork’s projection of $9 billion means that FTX’s assets have seen close to a 40% increase from the speculated sum of $6.4 billion which is said to be how much the company’s assets were worth prior to when it filed for bankruptcy. Notably, the majority of the crypto exchange’s assets were made up of cryptocurrencies.
Serum (SRM) and Solana (SOL) specifically formed FTX’s largest crypto holdings. The crypto exchange held $2.19 billion worth of SRM and $0.98 billion worth of SOL. The bump in the value of the crypto exchange’s assets has been largely due to the resurgence in SOL’s price. SOL has seen an impressive gain of over 400% in the past year.
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Author: Scott Matherson
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