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This link points to the archive because the original story has been deleted. >>"Nothing is a sure bet in crypto, but just the possibility that FTX could join—o
by Jimmc414 4y ago
This link points to the archive because the original story has been deleted.
>>"Nothing is a sure bet in crypto, but just the possibility that FTX could join—or even eclipse—the big four of American banking (JPMorgan Chase, Bank of America, Wells Fargo and Citibank) means it’s already valued at $32 billion. SBF himself has amassed more wealth in a shorter period of time than anyone else, ever."
This is interesting because it is estimated that his 16 billion to zero destruction of wealth has been estimated to also be the fastest "of anyone ever"
- mudrockbestgirl 4y agoTo be fair, 16 billion in wealth in mostly FTX tokens is not 16 billion of wealth in USD. These tokens aren't liquid enough by any means and even a tiny dump of that would've crashed the price. It's very different from someone like Elon who can actually dump shares.
- senttoschool 4y agoHe owned a little over 50% of FTX, the incorporation. FTX was worth $32b at its peak. Hence, he was valued at $16b. It didn't have anything to do with FTT the token.
- mudrockbestgirl 4y agoFTX, the corporation, is worth that amount mostly because of the FTT tokens on the balance sheet and the ability to print FTT tokens. If you take tokens out of the equation you'd probably arrive at a 10-20x lower valuation.
- pvg 4y agoIt's a huge dupe though. Dupe of a dupe of a dupe https://news.ycombinator.com/item?id=33580098 https://news.ycombinator.com/item?id=33580098