SpaceX’s shares surged after its IPO last week, a move that could increase payouts for creditors of the collapsed crypto exchange FTX, which held a pre‑bankruptcy stake in the aerospace firm.
SpaceX’s Market‑Cap Growth
Elon Musk’s rocket company has pushed its market valuation past $2.5 trillion, well above the $1.77 trillion price tag set at the time of the public offering. The rapid rise in price has attracted attention from investors monitoring the fallout of the FTX bankruptcy, as higher equity values may translate into larger distributions for the crypto‑related claims.
Potential Relief for FTX Creditors
Victims of the FTX collapse, including former customers and investors, are watching SpaceX’s performance closely. British investor Sunil Kavuri, who lost roughly $2 million when FTX failed, told Decrypt that promising investments like SpaceX “could help recovery and payment to FTX creditors.” The bankruptcy estate has already disbursed $10.3 billion to customers, and further gains from SpaceX could boost the total available to those still awaiting compensation.