Bankrupt crypto exchange FTX has reached an agreement to sell preferred shares in Mysten Labs and SUI token warrants back to the firm for around $96 million, the Wall Street Journal reports, citing the US Bankruptcy Court in Wilmington. However, the deal is yet subject to court approval.
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FTX had paid over $100 million for preferred shares of Mysten Labs last year before going bankrupt. On Wednesday, FTX reached a deal to recoup over $400 million in cash from hedge fund Modulo Capital.
The now-bankrupt crypto exchange invested about $5.3 billion in 475 deals through subsidiaries, including Alameda Research. The amounts ranged from $100 million for Mysten Labs to $1 million in checks for Limit Break or Messari. If convicted, the disgraced crypto entrepreneur could face up to 115 years in prison.
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