TechFlow news, according to court documents, Mysten Labs reached an agreement with the FTX bankruptcy estate on Wednesday to purchase FTX's equity investment in Mysten Labs and Sui token warrants for $96.3 million in cash.
The buyback agreement marks FTX CEO John J. Ray III's efforts to maximize recoveries for creditors from Sam Bankman-Fried's collapsed cryptocurrency exchange, a process that includes liquidating key assets from the FTX Ventures portfolio.
Mysten Labs made the offer to repurchase the assets from the FTX estate on March 16. Court filings show that before finalizing the deal with Mysten, the FTX bankruptcy estate retained investment bank Perella Weinberg Partners (PWP) to solicit interest from other potential buyers.Source
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