‘10 cents on the dollar’: What happens if Sam

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Sam Bankman-Fried’s reach in the crypto universe extends far beyond FTX.

And while his personal holdings may remain in limbo, industry players suggest to Fortune that his companies’ privately held equity likely will be sold in the coming months, for pennies on the dollar—or later liquidated during bankruptcy proceedings. The question yesterday was how much he was in the hole. The question now is how dismantling his empire will ripple throughout the crypto ecosystem.

At the core are four firms—including the two exchanges, FTX, and FTX US—the VC arm FTX Ventures, and a hedge fund, Alameda Research, all of which were active participants in the broader crypto ecosystem.

“They’re going to have to liquidate their portfolio,” said Nic Carter, a general partner at VC firm Castle Island Ventures and a vocal critic of centralized crypto firms. “I look forward to bidding on it at 10 cents on the dollar.”

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