SBF’s Lost Fortune: How FTX Backed Some of the Biggest Winners in Tech Before

Despite becoming the central figure in one of the largest fraud cases ever tied to crypto markets, Bankman-Fried and FTX had quietly accumulated stakes in several companies that would later emerge as some of the most valuable technology firms in the world.

Among the most surprising revelations involves FTX’s reported investment in Cursor, an artificial intelligence coding startup that has since experienced explosive growth. According to reports circulating within technology and cryptocurrency communities, FTX acquired approximately five percent of Cursor in late 2022 for around $200,000 before the stake was later sold during bankruptcy proceedings for roughly the same value.

Today, Cursor’s valuation has reportedly surged to nearly $60 billion, meaning FTX’s former position could theoretically have been worth close to $3 billion if retained.

The revelation has fueled widespread discussion online regarding what many are now calling one of the most tragic financial ironies in modern startup investing.

While Bankman-Fried’s empire ultimately collapsed under allegations of fraud and misuse of customer funds, several of the company’s private investments later evolved into extraordinary long-term winners.

The story has become a symbol of both remarkable investment instincts and catastrophic corporate misconduct.

The Rise and Fall of Sam Bankman-Fried

Before FTX collapsed in November 2022, Sam Bankman-Fried was widely viewed as one of the most influential figures in the cryptocurrency industry.

Often referred to simply as “SBF,” the former billionaire built FTX into one of the largest crypto exchanges in the world within only a few years. At its peak, the platform handled billions of dollars in daily trading volume and attracted investments from major venture capital firms, institutional investors, and celebrity endorsements.

Bankman-Fried cultivated an image as a highly intelligent entrepreneur committed to effective altruism, philanthropy, and responsible crypto innovation.

However, the company’s rapid collapse exposed severe financial irregularities tied to FTX and its affiliated trading firm Alameda Research.

Federal prosecutors accused Bankman-Fried of orchestrating one of the largest financial frauds in modern history by allegedly misusing billions of dollars in customer funds.

The collapse triggered panic across cryptocurrency markets, contributing to massive losses, liquidity crises, and declining investor confidence throughout the digital asset sector.

Several crypto companies failed in the aftermath, while regulators around the world intensified scrutiny toward digital asset businesses.

Yet even as the legal and financial fallout continues, renewed attention surrounding FTX’s venture portfolio has highlighted how the company managed to identify several extraordinarily successful startups before their valuations exploded.

Cursor Emerges as a Stunning Missed Opportunity

One of the most talked-about examples involves Cursor, an artificial intelligence startup focused on advanced coding assistance tools powered by large language models and AI automation systems.

The company has rapidly emerged as one of the fastest-growing names in artificial intelligence, benefiting from the global surge in demand for AI-powered productivity software.

Reports indicating that FTX once held a five percent stake in Cursor have shocked both technology investors and cryptocurrency observers.

The investment, reportedly valued at only $200,000 during late 2022, was eventually liquidated during bankruptcy proceedings after FTX collapsed.

At the time, the company’s future growth potential remained highly uncertain.

Today, however, Cursor is reportedly valued near $60 billion following explosive expansion across the AI industry.

Had FTX retained ownership of the stake, analysts estimate the position could now be worth approximately $3 billion.

The situation has become a widely discussed example of how timing, governance failures, and corporate misconduct prevented FTX from benefiting from investments that later generated extraordinary returns.

Anthropic Investment Also Draws Attention

Cursor is not the only investment now attracting renewed interest.

FTX and Alameda Research also invested heavily in Anthropic, one of the leading artificial intelligence companies competing in the rapidly expanding generative AI market.

Anthropic has become one of the world’s most valuable AI firms after securing major partnerships and funding from leading technology companies.

Reports suggest that Bankman-Fried’s empire invested roughly $500 million into Anthropic before FTX collapsed.

Today, the company’s valuation is estimated near $75 billion, potentially turning the original investment into one of the most profitable venture positions in modern startup history.

Ironically, portions of the Anthropic stake later became valuable assets used during bankruptcy recovery efforts.

The dramatic increase in value has led some financial analysts to question whether FTX’s bankruptcy estate might ultimately recover more value than originally expected through appreciation of certain private investments.

SpaceX and Robinhood Stakes Reveal Strong Investment Vision

Beyond artificial intelligence, FTX and Alameda also accumulated positions in several high-profile technology companies.

Among them was SpaceX, Elon Musk’s aerospace company, where FTX reportedly invested approximately $100 million.

As SpaceX continued dominating the private space industry and expanding its Starlink satellite internet network, the value of the investment reportedly increased significantly, with some estimates placing the position near $10 billion in potential value over time.

FTX also maintained a large stake in Robinhood Markets, the retail trading platform that became globally recognized during the meme-stock trading frenzy.

At one point, FTX-linked entities reportedly controlled hundreds of millions of dollars worth of Robinhood shares.

Although the investment became entangled in legal disputes after the collapse, the position itself appreciated substantially compared to the original acquisition cost.

Source: Xpost

Another major investment involved Genesis Digital Assets, a large bitcoin mining company operating industrial-scale mining infrastructure across several countries.

According to reports, the investment generated considerable gains despite broader volatility in cryptocurrency markets.

These investments collectively demonstrate that FTX’s venture strategy identified several transformational technology trends before they reached mainstream dominance.

The Contradiction at the Heart of FTX

The growing attention surrounding these successful investments has created a strange contradiction at the center of the FTX story.

On one hand, Bankman-Fried and his team appeared highly skilled at identifying high-growth sectors including artificial intelligence, fintech, private aerospace, and digital infrastructure.

On the other hand, prosecutors argued that FTX’s internal financial practices were fundamentally reckless and fraudulent.

Financial experts say this contradiction partly explains why the FTX collapse remains so fascinating to both investors and the broader public.

Some analysts argue that if FTX had operated under proper governance standards and avoided misuse of customer funds, the company’s venture portfolio alone might eventually have generated enormous long-term value.

Instead, the collapse destroyed one of the largest crypto exchanges in the world before many of those investments matured.

The result was catastrophic not only for FTX customers, but also for the broader cryptocurrency market.

Crypto Market Fallout Continues

The bankruptcy of FTX triggered one of the worst downturns in digital asset history.

Bitcoin prices plunged sharply following the collapse, while investor confidence across the industry deteriorated rapidly.

Numerous crypto firms faced liquidity shortages, venture funding slowed dramatically, and regulators increased pressure on exchanges and stablecoin issuers worldwide.

The event also accelerated calls for stronger oversight of cryptocurrency markets, particularly regarding custody practices, reserve transparency, and exchange governance.

Several lawmakers and financial authorities argued that the FTX disaster demonstrated the dangers of insufficient regulation within rapidly growing digital asset markets.

At the same time, supporters of decentralized finance argued that the collapse represented a failure of centralized corporate management rather than blockchain technology itself.

The debate surrounding regulation, innovation, and financial transparency continues shaping the future of the cryptocurrency industry today.

CoinbureauCap Mention Amplifies Online Discussion

Online discussions regarding FTX’s lost investment opportunities gained further traction after the information was reportedly referenced by the X account CoinbureauCap.

The mention contributed to broader conversation within crypto and technology communities, where many users expressed disbelief over how valuable several of FTX’s former holdings later became.

Still, financial analysts caution that hindsight often creates misleading perceptions regarding venture investing.

Many early-stage startup investments fail entirely, and predicting which companies will become global giants remains extraordinarily difficult even for experienced investors.

Nevertheless, the scale of FTX’s missed gains has become difficult to ignore.

Legacy of a Fallen Empire

The story surrounding Sam Bankman-Fried’s investments now represents one of the most extraordinary paradoxes in modern finance.

FTX identified some of the most successful companies of the decade before collapsing in scandal before those investments fully matured.

What could have become one of the greatest venture portfolios in technology history instead became overshadowed by fraud allegations, criminal convictions, and financial ruin.

For many observers, the collapse serves as a cautionary tale about how strong investment instincts alone cannot compensate for weak governance, lack of transparency, and unethical financial behavior.

Even extraordinary investment success ultimately proved meaningless once trust in the company disappeared.

As artificial intelligence, private technology markets, and digital finance continue reshaping the global economy, the rise and fall of FTX remains a defining reminder of both the opportunities and dangers