[[{“value”:”Some of the recoveries stemmed from successful investments that Mr. Bankman-Fried made during his FTX tenure. In 2021, the company had put $500 million into the artificial intelligence company Anthropic. A boom in the A.I. industry made those shares much more valuable. This year, Mr. Ray’s team sold about two-thirds of FTX’s stake for $884
The post FTX Customers Poised to Recover All Funds Lost in Collapse appeared first on Marginal REVOLUTION.”}]]
Some of the recoveries stemmed from successful investments that Mr. Bankman-Fried made during his FTX tenure. In 2021, the company had put $500 million into the artificial intelligence company Anthropic. A boom in the A.I. industry made those shares much more valuable. This year, Mr. Ray’s team sold about two-thirds of FTX’s stake for $884 million.
FTX also reached a deal to recover more than $400 million from Modulo Capital, a hedge fund that Mr. Bankman-Fried had financed. And lawyers for FTX filed lawsuits to claw back funds from former company executives and others, including Mr. Bankman-Fried’s parents.
Here is the full NYT story, noting that account holders did not receive (significant) gains in the value of bitcoin that otherwise would have accrued.
The post FTX Customers Poised to Recover All Funds Lost in Collapse appeared first on Marginal REVOLUTION.
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