The FTX estate, the frozen wreckage of Sam Bankman-Fried’s collapsed empire, still holds significant positions in Solana, Bitcoin, and Ethereum, alongside a surprisingly valuable stake in AI firm Anthropic. What is clear is that buried inside the bankruptcy proceedings is an accidental case study: some of SBF highest-conviction non-crypto bets actually survived, and even thrived, after the collapse. The problem was never the assets. It was everything built around them.
If Sam Bankman-Fried's FTX didn't liquidate its investments following its collapse, it would still hold:
• Solana: $5.1 billion (27x)
• SpaceX: $15 billion (75x)
• Cursor: $3 billion (15,000x)
• Robinhood: $4.9 billion (8x)
• Anthropic: $82.3 billion (165x)
• Genesis… pic.twitter.com/48FVSnf5LM— Watcher.Guru (@WatcherGuru) April 22, 2026
If you strip away the fraud, the commingling of customer funds, and the reckless use of FTT as fake collateral, what remains looks a lot like the skeleton of a genuinely strong crypto portfolio strategy, one that we can actually learn.
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What Would SBF Portfolio Look Like If He’d Played Crypto Straight?
The FTX estate’s surviving assets tell a clear story. SOL, BTC, and ETH held value through the collapse and recovered. The tokens SBF actually launched, the so-called “Sam coins” like MAPS, OXY, and SERUM, went to near zero. Over 90% of Alameda Research’s book was concentrated in illiquid, self-issued tokens used as collateral for leveraged bets.
A responsible version of this conviction set looks completely different. Analysis of the estate’s holdings suggests a rehabilitated allocation would have looked something like this: 60% BTC and ETH as the structural backbone, 20% SOL as the high-conviction infrastructure bet, and 20% liquid cash or stablecoins held in reserve to buy dips without forced selling.
If that structure had been in place in 2022, the portfolio would have weathered the crypto downturn badly but survivably. SOL dropped over 95% from its peak but has since staged a significant recovery.
The Anthropic stake drives that point home even harder. The FTX estate’s investment in Anthropic has proven more valuable than most of the crypto projects SBF personally championed. Diversifying outside a single ecosystem isn’t just good advice. It’s what actually survived.
The lawyer who filed FTX for bankruptcy said Anthropic was worth "nothing" and sold the stake for $1.3b.
— SBF (@SBF_FTX) March 17, 2026
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What the FTX Estate Teaches Us About Risk Management
The three-tier logic holds at any scale. Bitcoin is the foundation, the deepest liquidity, and the clearest institutional adoption. It’s the safety tier.
Ethereum is the second pillar. It’s the credibility tier, the smart contract layer that every serious developer builds on, with real revenue, real usage, and real network effects. If BTC is the digital gold argument, ETH is the digital infrastructure argument. Both belong in a beginner’s portfolio before anything else gets considered.
SOL is the high-conviction bet. It carries more risk than BTC or ETH, moves faster in both directions, and requires you to genuinely believe in its long-term positioning as a fast, low-cost chain.
Then allow 5% of your portfolio for a moonbag, it’s the kind of coin you pick that has the chance to do 100-200X in a short period of time, but also the one you are willing to lose, it’s a gamble that can be predicted with some on-chain knowledge.
The risk management principle is simple: speculative assets should never exceed what you can afford to lose entirely without changing your financial situation.
Liquid Bet of The Day
Bitcoin is safe, Ethereum is the second pillar, and Solana is a high conviction bet. Where is the moonbag? Institutional buyers like FTX have all these in their risk management.
LiquidChain ($LIQUID) is currently in presale at $0.01451, having raised close to $700k to date. The project is building a Layer 3 cross-chain liquidity infrastructure that fuses Bitcoin, Ethereum, and Solana liquidity into a single execution environment, essentially allowing developers to deploy once and tap all three ecosystems simultaneously.
A new layer emerges. Only a few see it first.
The future is LiquidChain 👁⟁https://t.co/vqvBcdSj94 pic.twitter.com/R7ZeZ0NPGl
— LiquidChain (@getliquidchain) March 24, 2026
Its Unified Liquidity Layer and Single-Step Execution architecture address one of DeFi’s most persistent headaches: fragmented liquidity across chains.
If the thesis interests you, research LiquidChain here.
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