Creditors are stunned by how the FTX liquidation team vaporized billions

Few would have guessed that the famous AI project Cursor, which recently raised $900M and is valued at $9B, was previously funded by Alameda Research with $200K from the Seed round in 2022, using the very deposits of FTX users.

Now, that investment has appreciated to $500M (2,500 times). But unfortunately, the FTX asset liquidation team sold it back at the original price of $200K.

This is not the only time FTX sold off its investments at a loss; besides Cursor, there are:

- Anthropic: FTX once owned about 8% of this AI company's shares with an investment of $500M. Now Anthropic is valued at $60B, but the liquidation team sold early at $1.3B, missing out on a potential profit of around $4-5B.

- SUI: FTX once held 890M SUI tokens, currently valued at $3.2B. Yet they sold it for only $200M, incurring a loss of nearly $3B.

👉 While creditors are scrambling for every last cent, just these three hasty liquidation deals have caused FTX to miss out on over $7B.

Is this merely bad luck in a situation that forced them to sell prematurely, or is it evidence of incompetence and lack of transparency in the asset liquidation process?