Alex Svanevik said Binance’s abandoned 2022 FTX takeover could have left CZ with indirect exposure to Anthropic, Cursor, SpaceX-related holdings, Robinhood and Solana that later became highly valuable.
Nansen CEO Alex Svanevik said Binance founder Changpeng Zhao may have walked away from one of the most valuable venture-style portfolios in tech when Binance abandoned its proposed acquisition of FTX in November 2022. Citing the investment book tied to Sam Bankman-Fried and FTX, Svanevik said the assets could have left Binance with indirect exposure to an 8% stake in Anthropic, a 5% stake in Cursor, SpaceX-related holdings, Robinhood and Solana. Forbes reported in May that Bankman-Fried’s personal and FTX-linked investments would now be worth more than $100 billion. The FTX estate later sold assets during bankruptcy to repay creditors, including Cursor shares that were sold back to the founders for $200,000 in 2023 and would now be worth about $3 billion based on a later $60 billion valuation. Zhao said in his April 2026 memoir that he signed a non-binding letter of intent largely to review FTX’s finances and see whether customers could be protected, but never intended to complete the deal. Binance withdrew on November 9, 2022, citing mishandled customer funds and alleged U.S. agency investigations.