As the dust begins to settle on one of the most dramatic collapses in the crypto sector regarding FTX and Alameda, there’s a growing narrative that these companies’ privately held equities may be in limbo.
Former FTX founder Sam Bankman-Fried’s fortune significantly fell from an estimated $16 billion to effectively nothing overnight. His wealth reached a staggering $26 billion in March of this year. But it all came crashing down after the FTX group dosyalanmış for Chapter 11 bankruptcy last week.
FTX empire collapse: One of history’s largest destructions of wealth
The Bloomberg Billionaires Endeksi now values FTX’s U.S. arm, of which Bankman-Fried owns about 70%, at $1 billion because of a potential trading halt from $8 billion in a January fundraising round.
The said executive successfully raised billions to fund the FTX group. But what about the same group’s ventures? One should know that SBF’s reach in the cryptoverse was far beyond just FTX, Alameda, and FTX.US.
Given that fact, do we know the sheer extent of the contagion here? More specifically, the olasılık of the spread of an economic crisis across different exposed firms.
Here’s a small glimpse of the SBF empire’s investments, many of which were regarded as industry leaders:
Given their exposure to FTX and Alameda, the firms mentioned above are at a high risk of becoming ‘contaminated.’
Durum nedir?
Data from Crunchbase shed some light on different investments made by SBF and respective companies. Overall, Alameda Research was responsible for 184 investments, FTX Ventures for 48 investments, and the FTX exchange for 21 investments.
A small glimpse into such investments or even acquisitions can give some insight for readers to maintain caution against the exposed firms.
FTX’s latest investment was on Aug. 29 in the blockchain oyun şirket Sınır Arası. Firma yükseltilmiş $200 million from FTX and other investors, including Coinbase Ventures, Anthos Capital, SV Angel, and Shervin Pishevar. Limit Break is known for its DigiDaigaku NFT koleksiyonu.
Gabriel Leydon, the founder of the game company, then belirtildiği, “We have the perfect partners, perfect investors, and perfect team in place to bring the gaming industry into a new era.”
At press time, there was some speculation on Twitter that the company wasn’t affected by FTX’s demise. BeInCrypto reached out to Leydon for comments but has not received a response.
BlockFi elaborates on its situation
‘Reverberations from the collapse of Sam Bankman-Fried ‘s empire continue to spread through financial markets, threatening the future of crypto lenders like BlockFi Inc.,’ Bloomberg rapor.
But how bad was it? BeInCrypto did some digging in order to provide clarity.
On Nov. 14, BlockFi, the famed crypto lending platform, admitted it had exposure to FTX. It even included obligations owed to Alameda Research, assets held at FTX.com, and a credit line from FTX.US.
Source: https://beincrypto.com/ftx-crisis-put-these-companies-on-contagion-list/