FTX Liquidators Miss Out on Massive AI Windfall After Selling Stake Too Early
The asset in question was a stake in Cursor, an artificial intelligence-powered coding assistant developed by Anysphere Inc. FTX, via its trading arm Alameda Research, had invested $200,000 into the company during a 2022 seed round. That same stake was offloaded by liquidators for the exact purchase price.
FTX, via its trading arm Alameda Research, had invested $200,000 into the company during a 2022 seed round. That same stake was offloaded by liquidators for the exact purchase price. Now, that decision looks like a multi-million dollar blunder.
According to the Financial Times, Cursor has since grown into a major player in the AI space, recently locking in a $9 billion valuation after raising $900 million from top-tier venture capital firms.
With annual recurring revenue already exceeding $200 million, the platform has established itself as a fast-growing powerhouse in developer tools, combining advanced code suggestions, natural language programming, and seamless debugging—all built on a customized version of Visual Studio Code.
If FTX’s estate had held onto its stake, the value could have ballooned to as much as $500 million.
This isn’t the first time FTX’s post-collapse asset sales have come under scrutiny. The estate also liquidated early agreements related to the SUI blockchain for just $1 million—only to watch that project reach a $3 billion valuation shortly afterward.
Liquidators continue to offload assets in an effort to repay creditors impacted by the exchange’s dramatic downfall. But critics argue that a pattern of undervaluing tech-related holdings could be slowing recovery efforts and leaving billions on the table.
Alexander Stefanov
Reporter at Coindoo
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over 8 years of experience covering the crypto, blockchain and fintech industries, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics.
