Hacker News Reader

Im genuinely intrigued by the $2.2 billion in SRM

The peak market capitalisation of SRM was less than 1.5 billion (according to coinmarketcap.com ) . So how could FTX's holdings every be valued at 2.2 billion?

View on HN

Ah, I think FT story made a mistake, it isn't 2.2 billion dollars of SRM, it is 2.2 billion tokens. Biiiiiiiiig difference.

It’s 2.2 billion dollars - but it’s using fully diluted value rather than circulating supply market cap.

Yeah, you are right. That is still bonkers crazy nuts.

Even more bonkers is who minted all of those coins? Was it FTX?

Reply on news.ycombinator.com