FTX sold its Cursor stake for $200,000 in 2023. It would be worth $3 billion today

SpaceX's agreement to acquire AI coding startup Cursor at a $60 billion valuation has retroactively turned a routine bankruptcy asset sale by FTX's estate into one of the largest missed recoveries in crypto history. What to know : A 5 percent stake in AI coding startup Cursor that FTX’s bankruptcy estate sold for $200,000 in 2023 would be worth about $3 billion under SpaceX’s new $60 billion deal for the company. The windfall instead goes to the buyer of the bankruptcy stake, sharpening criticism that FTX’s administrators sold assets too quickly and left creditors without the upside from a historic tech rally. The Cursor episode is likely to become a centerpiece of Sam Bankman-Fried’s argument from prison—and his family’s push for a pardon—that the estate destroyed tens of billions in potential value by liquidating early.