FTX's Investment in SpaceX Could Yield Billions of Dollars

BlockBeats News, June 18th: Due to SpaceX's post-IPO market capitalization exceeding $2.5 trillion last week, creditors of the bankrupt cryptocurrency exchange FTX may benefit. Prior to FTX's collapse in 2022, it had invested $190 million in SpaceX through a fund from the venture capital firm K5 Global.

Creditors' representative Sunil Kavuri stated that based on SpaceX's current market value, FTX's investment exposure to SpaceX could be worth billions of dollars. Previously, John J. Ray III, the CEO of the restored trust of FTX, mentioned that the performance of the investment partnership with K5 Global would be a key driver in asset recovery efforts. (decrypt)