With SpaceX's stock price surging, FTX's investment returns from SpaceX could reach billions of dollars

Odaily reported that since SpaceX's market capitalization exceeded $2.5 trillion after its IPO last week, creditors of the bankrupt crypto exchange FTX could benefit. Before FTX's collapse in 2022, it had invested $190 million in SpaceX through a fund managed by the venture capital firm K5 Global.

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