Key Highlights :
1. FTX debtors have approved an agreement to sell its preferred stock in Mysten Labs.
2. The deal is subject to court approval and the possibility of other bids on the stock before being finalized.
3. FTX Ventures acquired the stock as part of a $300 million funding round with Mysten announced in September 2022.
4. Debtors in the FTX bankruptcy case also announced on March 22 they plan to recover $460 million of user funds from venture capital firm Modulo Capital.
Debtors in FTX’s bankruptcy case plan to sell preferred stock to Mysten Labs in order to recover user funds. The sale is subject to court approval and other bids.
Continue Reading at Source : cointelegraph