Since the sentencing of former FTX CEO Sam Bankman-Fried (SBF), the assets linked to his portfolio have shown mixed performance, with Bitcoin (BTC) emerging as the only one to post positive returns.
For context, SBF was sentenced to 25 years in prison on March 28, 2024, for orchestrating one of the largest financial frauds in history. In the aftermath, the cryptocurrency market has seen notable shifts in price movement and adoption trends.
The portfolio associated with SBF’s companies, including crypto exchange FTX and Alameda Research, mainly comprised assets such as Bitcoin, Ethereum (ETH), Solana (SOL), and FTX’s native token, FTT.
While SBF may not have personally owned these assets, they were central to his firm’s operations and investment strategies.
Here’s how these digital assets have performed since his sentencing and what a $1,000 investment in each would be worth today.
Bitcoin (BTC)
On March 28, 2024, Bitcoin traded at $70,744, rising by 19.43% as of press time to $84,490. A $1,000 investment in Bitcoin on the day of SBF’s sentencing would now be worth $1,194.
Over this period, Bitcoin has undergone notable developments, including being added to the strategic crypto reserve of the U.S. government and hitting a record high above $100,000.
Solana (SOL)
Once a cornerstone of FTX and Alameda Research’s investment strategy, Solana traded at $189 when Bankman-Fried was sentenced. Notably, the collapse of FTX had a massive impact on the decentralized finance asset, which once dropped below $10.
The significance of SOL to the FTX empire was highlighted in 2021 when the exchange and Alameda raised over $300 million for Solana’s ecosystem.
As of press time, SOL has decreased to $132, a 30.16% decline. A $1,000 investment in Solana at sentencing would now be worth $698.40.
Ethereum (ETH)
Ethereum, trading at $3,562 on March 28, 2024, has fallen to $1,633 by press time, a 54.15% drop. Therefore, investors who put $1,000 in the second-ranked digital currency by market cap would now see their investment valued at $458.50.
Ethereum has failed to mirror Bitcoin’s performance and has remained mostly suppressed.
FTX Token (FTT)
FTX’s native token, FTT, is central to the exchange’s operations. It traded at $1.92 on March 28, 2024. As of press time, it has plummeted to $0.86, a 55.21% decrease. To this end, a $1,000 investment in FTT would now be worth $447.90. The token’s collapse largely points to investor reaction to the eroding trust in the exchange after fraud allegations emerged.
Since his imprisonment, the performance of assets tied to SBF’s companies reveals a mixed landscape. A $4,000 investment equally split across these four assets would now be worth approximately $2,799, a 30.02% overall decline.
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