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MainNewsFTX’s $500M ...

FTX’s $500M Loss: Why Selling Its Cursor Stake for $200K Was a Huge Mistake


by Lisa walter
for CoinEdition
FTX Misses $500M by Selling Cursor Stake for $200K: Report
  • FTX missed out on $500 million by selling its Cursor investment for the original $200,000.
  • Thrive Capital and other top firms led a $900M round, showing confidence in Cursor’s growth.
  • FTX’s failure to capitalize on Cursor’s growth led to financial losses during bankruptcy.

FTX Exchange gave up $500 million in potential earnings from its early investment in Cursor, an AI-powered code editor. FTX’s financial stakeholders now face the complete loss of their investment in the Cursor entity. The funding round, combined with growing valuation, transformed into a disastrous decision for FTX, which resulted in the loss of investment stake.

In 2022, Alameda Research, a subsidiary of FTX, invested $200,000 in the startup Cursor. Since then, the value of that investment has grown significantly, with estimates placing it at around $500 million due to rising market valuations. However, during the FTX bankruptcy proceedings, liquidators sold the stake in Cursor for its original purchase price of $200,000.

The post FTX’s $500M Loss: Why Selling Its Cursor Stake for $200K Was a Huge Mistake appeared first on Coin Edition.

Read the article at CoinEdition

Read More

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Global crypto exchange KuCoin has announced the listing of LayerEdge (EDGEN) on its s...
Metaplanet Becomes 10th-Largest Public Bitcoin Holder With Latest $117 Million Buy

Metaplanet Becomes 10th-Largest Public Bitcoin Holder With Latest $117 Million Buy

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MainNewsFTX’s $500M ...

FTX’s $500M Loss: Why Selling Its Cursor Stake for $200K Was a Huge Mistake


by Lisa walter
for CoinEdition
FTX Misses $500M by Selling Cursor Stake for $200K: Report
  • FTX missed out on $500 million by selling its Cursor investment for the original $200,000.
  • Thrive Capital and other top firms led a $900M round, showing confidence in Cursor’s growth.
  • FTX’s failure to capitalize on Cursor’s growth led to financial losses during bankruptcy.

FTX Exchange gave up $500 million in potential earnings from its early investment in Cursor, an AI-powered code editor. FTX’s financial stakeholders now face the complete loss of their investment in the Cursor entity. The funding round, combined with growing valuation, transformed into a disastrous decision for FTX, which resulted in the loss of investment stake.

In 2022, Alameda Research, a subsidiary of FTX, invested $200,000 in the startup Cursor. Since then, the value of that investment has grown significantly, with estimates placing it at around $500 million due to rising market valuations. However, during the FTX bankruptcy proceedings, liquidators sold the stake in Cursor for its original purchase price of $200,000.

The post FTX’s $500M Loss: Why Selling Its Cursor Stake for $200K Was a Huge Mistake appeared first on Coin Edition.

Read the article at CoinEdition

Read More

KuCoin Announces LayerEdge (EDGEN) Listing, Taps Decentralized zk-Verification

KuCoin Announces LayerEdge (EDGEN) Listing, Taps Decentralized zk-Verification

Global crypto exchange KuCoin has announced the listing of LayerEdge (EDGEN) on its s...
Metaplanet Becomes 10th-Largest Public Bitcoin Holder With Latest $117 Million Buy

Metaplanet Becomes 10th-Largest Public Bitcoin Holder With Latest $117 Million Buy

Japan-based Metaplanet has expanded its Bitcoin (BTC) treasury to 8,888 BTC after acq...