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FTX Estate Fumbles $500,000,000 Investment As AI Coding Platform Cursor Now Valued at Nearly $1,000,000,000: Report
By: cryptonews|2025/05/07 09:00:01
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FTX bankruptcy liquidators sold its stake in the artificial intelligence (AI) coding platform Cursor for $200,000, missing a potential $500 million windfall, according to recent reports. According to a new report from the Financial Times, Cursor – developed by Anysphere Inc. – has secured $900 million in funding at a $9 billion valuation since being sold off by FTX, with backing from prominent venture capitalist firms. Cursor AI is a smart coding assistant that aims to enhance software development by incorporating natural language programming, advanced code suggestions, and built-in debugging. Based on a modified version of Visual Studio Code, it aims to provide deep code analysis, interactive chat support, and automated tools to help developers efficiently write, refine, and optimize their code. The company reportedly generates more than $200 million in annual recurring revenue. The stake originated from FTX’s trading arm, Alameda Research, which invested $200,000 in Cursor’s seed round in 2022. Liquidators sold the investment at cost, failing to anticipate the platform’s growth potential. The sale represents another undervalued asset sale by FTX liquidators, who previously sold SUI blockchain contracts for $1 million that later reached a $3 billion valuation. The estate continues liquidating holdings to repay customers affected by the exchange’s collapse, though the miscalculations have hampered recovery efforts. Generated Image: Midjourney
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