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FTX 'Sells Hastily' Stake in Anysphere: Losing Hundreds of Millions USD When Valuation Reaches 9 Billion USD?
FTX Estate revealed a potential loss of hundreds of millions of USD when selling its stake in Anysphere for 200,000 USD in 2023, while the valuation of this company currently stands at 9 billion USD. Could this be FTX's biggest mistake? Let's analyze in detail.
FTX Sells Stake in Anysphere: A Wrong Decision
In April 2023, #FTX Estate sold its stake in Anysphere owned by Alameda Research (through Clifton Bay Investments LLC) for 200,000 USD, exactly the same amount invested in 2022, to raise funds to pay debts. However, Anysphere – the company developing Cursor, an AI programming assistance application – is now valued at 9 billion USD, making the value of FTX's stake previously estimated at 500 million USD, resulting in a potential loss of hundreds of millions USD.
FTX Sells Stake in Anysphere: A Wrong Decision
In April 2023, #FTX Estate sold its stake in Anysphere owned by Alameda Research (through Clifton Bay Investments LLC) for 200,000 USD, exactly the same amount invested in 2022, to raise funds to pay debts. However, Anysphere – the company developing Cursor, an AI programming assistance application – is now valued at 9 billion USD, making the value of FTX's stake previously estimated at 500 million USD, resulting in a potential loss of hundreds of millions USD.
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