FTX’s $500M Missed Opportunity on Cursor AI Stake Sale

Bankrupt cryptocurrency exchange FTX missed out on nearly half a billion dollars in potential gains after liquidating its early stake in Anysphere, the developer behind AI code editor Cursor. Alameda Research, FTX’s trading arm, had initially invested $200,000 during Anysphere’s 2022 seed round but sold the position at cost in 2023—just before the startup’s valuation surged to $9 billion. The April funding round saw Thrive Capital and Andreessen Horowitz leading the investment, highlighting the missed opportunity for FTX.

FTX’s $500M Missed Opportunity on Cursor AI Stake Sale

Bankrupt cryptocurrency exchange FTX forfeited nearly half a billion dollars in potential gains after liquidating its early stake in Anysphere, the developer behind AI code editor Cursor. Alameda Research, FTX’s trading arm, initially invested $200,000 during Anysphere’s 2022 seed round but sold the position at cost in 2023—before the startup’s valuation skyrocketed to $9 billion.

The April funding round saw Thrive Capital, Andreessen Horowitz, and Accel pour $900 million into Anysphere. This followed a January raise at a $2.5 billion valuation, highlighting the explosive growth FTX’s estate failed to capture. The fire sale of assets continues to haunt the defunct exchange’s legacy.

Julia Garner to Portray Caroline Ellison in Netflix’s FTX Drama Series

Emmy-winning actress Julia Garner is reportedly in negotiations to play Caroline Ellison, the former Alameda Research CEO and key figure in the FTX collapse, for an upcoming Netflix limited series. The untitled project will chronicle the rise and fall of Sam Bankman-Fried’s crypto empire through the lens of Ellison’s professional and personal relationship with the disgraced FTX founder.

The series marks Garner’s fourth collaboration with Netflix following her acclaimed performances in Ozark, Inventing Anna, and Maniac. Production details remain undisclosed, but the project is expected to delve into the human drama behind one of cryptocurrency’s most spectacular corporate failures.