The craziest part of the FTX story is that the victims got their money back. All of it, plus 18% interest. And the money came from a bet Sam Bankman-Fried made with their cash. Back in 2021, before anyone cared about AI, SBF quietly put $500 million of FTX money into a startup founded by ex-OpenAI researchers. That startup was Anthropic, the company behind Claude. When FTX blew up in November 2022, the stake was just another line item for the bankruptcy lawyers to pick through. Three weeks after the collapse, ChatGPT launched. Suddenly the most radioactive balance sheet in crypto was sitting on one of the hottest private assets on earth. The estate sold the 8% stake for $1.3 billion in 2024. Jane Street, the firm where SBF worked before founding FTX, was among the biggest buyers. That sale, plus the rest of the recovered assets, let the estate pay creditors between 118 and 143 cents on the dollar. Here's the part I can't get over. Anthropic was just valued at $965 billion. The stake FTX dumped for $1.3 billion would be worth roughly $75 billion today. The hole SBF dug was $8 billion. His stolen-money side bet would have filled it nine times over. One catch the victims know well. Claims were paid at November 2022 crypto prices. If you had a bitcoin on FTX, you got 118% of about $16,000, not your bitcoin. The best trade of SBF's life was made with money that wasn't his. His victims collected the first $1.3 billion. Everyone who bought from the estate collected the rest.