Imagine losing 28 billion dollars... from just one investment.
Sam Bankman-Fried through FTX invested 500 million dollars in Anthropic at a valuation of 2.5 billion.
Today, the valuation of Anthropic reached 380 billion.
FTX's share was worth almost 30 billion dollars (60x).
But due to bankruptcy, the share was sold early for only 1.5 billion.
The bankruptcy gap for FTX was 9 billion.
One investment could have covered it several times.
Markets are unforgiving... and liquidity is more important than the strongest investment in the world