2023-04-18
Mysten Labs bought back SUI
equity stake in the form of token warrants (rights to purchase SUI tokens) from
FTX for $96.3 million. The repurchase was
approved by U.S. Bankruptcy Court.
In September 2022, Mysten Labs, the company that developed Sui blockchain raised $300 million at $2 billion valuation in the series B round fund raising. Series B investors included FTX Ventures, Coinbase Ventures, Jump Crypto, Andreessen Horowitz's a16z, Circle Ventures, Binance Labs. and O'Leary Ventures.
Recently,
FTX’s attorney Andy Dietderich said in April 2023 at U.S. bankruptcy court
hearing in Delaware that FTX’s legal team has recovered over $7.3 billion worth
of cash and liquid crypto assets.
