Some of the recoveries stem from successful investments made by Mr. Bankman-Fried during his tenure at FTX. In 2021, the company had invested $500 million in artificial intelligence company Anthropic. The rise of the AI industry has made these stocks much more valuable. This year, Mr. Ray’s team sold about two-thirds of FTX’s stake for $884 million.
FTX also reached an agreement to recover over $400 million from Capital Module, a hedge fund that Mr. Bankman-Fried had financed. And FTX lawyers have filed lawsuits to recover funds from former company executives and others, including those of Mr. Bankman-Fried. parents.
Here is the full story from the New York Timesnoting that account holders did not receive (significant) gains in the value of bitcoin that otherwise would have been accrued.
