As the SpaceX stock price soars, FTX's investment in SpaceX could yield returns of billions of dollars

Odaily Planet Daily News: Since SpaceX's market capitalization exceeded $2.5 trillion after its IPO last week, creditors of the bankrupt crypto exchange FTX may stand to benefit. Prior to FTX's collapse in 2022, it invested $190 million in SpaceX through a fund managed by venture capital firm K5 Global.

Creditor representative Sunil Kavuri stated that based on SpaceX's current market value, the value of FTX's exposure to SpaceX could amount to billions of dollars. Previously, FTX Recovery Trust CEO John J. Ray III noted that the performance of the co-investment with K5 Global will be a key driver in the asset recovery efforts. (decrypt)