Ironically, the Anthropic that SBF was mocked for "recklessly throwing money" to acquire has become the most resilient part of FTX's legacy. Unfortunately, before the dawn of AI, FTX's clock had already stopped. For creditors, this $380 billion glory is just an illusion that can be seen but not touched.

Anthropic has just completed a $30 billion Series G funding round, pushing its valuation to an astonishing $380 billion.
This number turns FTX's investment from back then into the biggest regret in bankruptcy liquidation history.
Time rewind: that "disappeared" $300 billion dollars
If FTX had not collapsed at the end of 2022, and if the bankruptcy trustee had not hurried to liquidate assets in 2024 to pay short-term debts, today's creditors would be facing a completely different situation.
1️⃣ The "strongest ticket" of the past
In 2021, SBF led FTX to invest $500 million in Anthropic, which was then valued at only $2.5 billion. This investment gave FTX approximately 13.56% of the shares, making it the early largest external shareholder of this AI startup.
2️⃣ Harsh reality: selling too early
In 2024, the FTX bankruptcy team sold off this stake in batches to raise funds to compensate victims.
• Sale price: approximately $1.3 billion (which is 1.6 times the original cost).
• Shares held at the time: about 7.84% (diluted due to subsequent funding rounds by Amazon and Google).
3️⃣ The craziest What If
If this 7.84% stake had been held until today (February 2026), based on a $380 billion valuation:
The value of this stake would be up to $298 billion dollars.
Summary: a dislocation across time and space
• Actual recovery: $13 billion dollars
• Potential value: $298 billion dollars
• Lost profit: $285 billion dollars (roughly 900 billion New Taiwan Dollars / 200 billion RMB)
This "missed profit" is almost enough to repay the principal of all FTX victims, and even turn FTX into one of the wealthiest investment institutions in the world.