Since the ruling of former FTX CEO Sam Bankman-Fried (SBF), assets linked to his portfolio have shown mixed performance, with Bitcoin (BTC) emerging as the only one to post positive returns.
For context, the SBF was sentenced to 25 years in prison on March 28, 2024 for adjusting one of the biggest financial frauds in history. There have since been significant changes in price movements and adoption trends in the cryptocurrency market.
The portfolio associated with SBF companies, including Crypto Exchange FTX and Alameda Research, primarily comprised assets such as Bitcoin, Ethereum (ETH), Solana (SOL), and FTX’s native token FTT.
SBF may not own these assets personally, but it was at the heart of his company’s operation and investment strategy.
How these digital assets have worked since his ruling, and the $1,000 investment in each is what is worth today.
Bitcoin (BTC)
On March 28, 2024, Bitcoin traded at $70,744, up 19.43% to $84,490 as of press time. A $1,000 investment in Bitcoin on the day of SBF’s sentencing is worth $1,194.
During this period, Bitcoin received notable development, including being added to the US government’s strategic cryptocurrency reserve and hitting a high of over $100,000.
Solana (Sol)
Once the cornerstone of FTX and Alameda Research’s investment strategy, Solana traded for $189 when Bankman-Fried was sentenced. In particular, the collapse of FTX had a major impact on decentralized financial assets, once down below $10.
The importance of SOL to the FTX Empire was highlighted in 2021 when Exchange and Alameda raised over $300 million in the Solana ecosystem.
At the time of reporting, Sol had dropped to $132, down 30.16%. The $1,000 investment in Solana at the time of the verdict is worth $698.40.
Ethereum (eth)
Ethereum, trading at $3,562 on March 28, 2024, fell 54.15% to $1,633 per press time. Therefore, investors who put $1,000 in the digital currency, the second largest market capitalization, have now been considered their investment at $458.50.
Ethereum is unable to reflect Bitcoin’s performance and remains largely restrained.
FTX Token (FTT)
FTX’s native token, FTT, is the central part of Exchange operation. It was traded on March 28, 2024 for $1.92. At press time, it plummeted to $0.86, a 55.21% decline. For this reason, a $1,000 investment in FTT is worth $447.90. The token collapse mainly points to investors’ reactions to eroding trust in exchanges after allegations of fraud emerged.
The performance of assets linked to SBF companies since his incarceration reveals a mixed landscape. An investment of $4,000 equally divided into these four assets is worth around $2,799, which is a 30.02% reduction overall.
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