Mysten Labs Acquires FTX’s Equity Investment And Securing Tokens For $96M
Mysten Labs reached an agreement with FTX debtors on Wednesday to acquire FTX’s equity investment in Mysten Labs and secure the SUI token for $96.3 million in cash. Mysten Labs, the team behind the Sui blockchain, signed an agreement on Wednesday with bankrupt assets FTX to purchase FTX’s equity investment in Mysten Labs and secure SUI tokens for $96.3 in million cash, according to court records.
FTX filed for bankruptcy a few months after FTX Ventures led Mysten Labs’ $2 billion Series B round last August. FTX invested US$101 million in this funding round, received approximately 570,000 Mysten Labs preferred shares and received warrants to purchase about 890 million SUI tokens. FTX paid around $101 million for the equity investment and an additional $1 million for token warrants. This means that FTX creditors can recover more assets. It also marks the efforts of the new FTX chief executive in helping creditors collect as much as possible. FTX debtors can continue to “seek higher offers from other third parties” until the court sets a date for sale.
Source
https://t.me/Crypto_Futures_Trading
