FTX Sold Cursor Stake for $200,000; It Is Now Worth $3 Billion

After FTX filed for bankruptcy in 2022, the bankruptcy estate began liquidating assets to repay creditors. In 2023, the estate sold its 5% stake in AI coding startup Cursor for just $200,000. The deeply discounted sale has now become a flashpoint in the debate over the timing of the liquidation and the valuation of the assets.

Recent reports said SpaceX plans to acquire Cursor at a $60 billion valuation. On that basis, the 5% stake FTX sold would now be worth about $3 billion, roughly 15,000 times the 2023 sale price. FTX creditors have criticized the bankruptcy estate for cashing out too early and missing gains that could have substantially increased funds available for repayment.