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FTX supposedly had funding rounds that valued it at like $30B. This is equity, not deposits. Possibly massively overpriced due to crypto bubble, but likely that
by Baader-Meinhof 3y ago
FTX supposedly had funding rounds that valued it at like $30B. This is equity, not deposits. Possibly massively overpriced due to crypto bubble, but likely that he could've extracted generational wealth from it.
- acdha 3y agoI'd be shocked if they had any solid claim at even $1B using honest numbers. The crypto world loves to make valuations like “I just sold one to my buddy at $500, the other tokens are worth $45 trillion” but at the end of the day there just wasn't that much liquidity since most people aren't interested in the product. For a company like FTX which is getting fees from their customer's holdings that doesn't leave a lot of room for billions unless they could have cashed out at the peak of the bubble.
- idlewords 3y agoOr just settled for the generational wealth he'd get from his parents. You really had to try hard in this guy's position to not live a life of complete material ease, and he pulled it off!
- karmakurtisaani 3y agoOr stay at the hedge fund he was working at (Jane Street?) and make a fortune in bonuses! Dudebro really achieved something very few of us ever will.
- code_runner 3y agoWhat sort of funding rounds was Elizabeth Holmes getting again? What was the supposed value of twitter when Elon bought it? Valuations don’t mean much until the money changes hands, typically with the asset holder losing.