SpaceX’s market cap surpassing $2.5 trillion may boost recoveries for FTX creditors holding pre-collapse stakes in the firm.
FTX creditors are monitoring SpaceX’s post-IPO valuation surge, which has pushed its market cap beyond $2.5 trillion. The defunct crypto exchange held a stake in SpaceX before its collapse, raising hopes for higher recoveries among victims of the fraud case led by Sam Bankman-Fried.
SpaceX’s initial valuation stood at $1.77 trillion at its IPO. FTX’s bankruptcy estate has already distributed $10.3 billion to customers, but creditors remain focused on potential gains from its remaining assets, including the SpaceX stake.
Investors like Sunil Kavuri, who lost $2 million in the collapse, have expressed optimism about the valuation increase, though FTX’s bankruptcy team has not commented on the potential impact.