FTX bankruptcy liquidators have recently sold their stake in the artificial intelligence (AI) coding platform Cursor for $200,000, missing out on a potential $500 million windfall, as per recent reports.
According to a recent report from the Financial Times, Cursor, developed by Anysphere Inc., has raised $900 million in funding at a $9 billion valuation since its sale by FTX, with support from prominent venture capital firms.
Cursor AI is a sophisticated coding assistant designed to improve software development by integrating natural language programming, advanced code suggestions, and built-in debugging. It is based on a modified version of Visual Studio Code and offers deep code analysis, interactive chat support, and automated tools to help developers write, refine, and optimize their code efficiently.
The company reportedly generates over $200 million in annual recurring revenue.
The stake originally came from FTX’s trading arm, Alameda Research, which invested $200,000 in Cursor’s seed round in 2022. The liquidators sold the investment at cost, failing to foresee the platform’s growth potential.
This sale marks another undervalued asset sale by FTX liquidators, who previously sold SUI blockchain contracts for $1 million, which later reached a $3 billion valuation.
The estate continues to liquidate assets to compensate customers affected by the exchange’s collapse, although the misjudgments have hindered recovery efforts.
Follow us on X, Facebook, and Telegram
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Surf The Daily Hodl Mix
Generated Image: Midjourney
