As Anthropic's Valuation Reaches $1T, Why's SBF Incarcerated?
The article questions the circumstances surrounding Sam Bankman-Fried's incarceration by contrasting the post-issuance performance of FTT coins with the recent $1 trillion private valuation of AI company Anthropic, suggesting a reevaluation of the narrative around FTX's collapse. It notes that FTT coins, which entitled owners to a portion of FTX’s profits, initially traded around 0.5 cents and later saw significant market movement. The piece implies that evolving valuations in the tech and crypto sectors may prompt skepticism about the legal outcome for SBF.
Opening excerpt (first ~120 words) tap to expand
FTT coins, the same coins that entitled owners to a third of FTX’s annual profits, initially fetched roughly .5 cents per coin. Wrapped in the latter, along with the recent private valuation of Anthropic at $1 trillion, is puzzlement about Sam Bankman-Fried’s (SBF) present incarceration. SBF was of course convicted for having stolen $8 billion from customers, but the direction of FTT coins after their initial issuance in 2019, along with once again the present valuation of Anthropic calls the conviction into question. To see why, consider the historical price action of FTT coins. Read Full Article »
Excerpt limited to ~120 words for fair-use compliance. The full article is at RealClear Markets.
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