Bankman-Fried's FTX sold its Cursor stake for $200,000 in 2023. It would be worth $3 billion today
CoinDesk
FTX's bankruptcy estate sold a 5% stake in AI startup Cursor for $200,000 in 2023, a position now valued at $3 billion.Summary
The FTX bankruptcy estate sold a 5% stake in the AI coding startup Cursor for $200,000 in April 2023, missing out on a massive windfall. Following SpaceX's agreement to acquire Cursor at a $60 billion valuation, that same stake would be worth approximately $3 billion today.
This incident has fueled arguments from Sam Bankman-Fried, who claims the bankruptcy estate unnecessarily destroyed value by liquidating assets at the bottom of the market. While FTX customers were eventually repaid in dollar terms, they lost out on significant upside, making the Cursor sale a primary example of the potential value lost during the administration's asset recovery process.
(Source：CoinDesk)