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To 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
by mudrockbestgirl 4y ago
To 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.