FTX may have missed out on a potential $1billion windfall due to its haste to sell off assets following bankruptcy.
Last month the defunct crypto exchange sold its holding of 890 million Sui tokens for $96million.
The figure was $5million less than the company had bought the tokens for last year when it invested in Mysten Labs, the Sui blockchain.
FTX first sought to sell the Sui coins in March, filing in the bankruptcy court for permission to sell its interest in Mysten.
The sale went ahead one month later, in April.
However, since then the price of Sui has skyrocketed.
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Had FTX held on to its holdings, the tokens would have been worth a total of $1billion – ten times what it sold them for.
Despite missing out on the lucrative return, FTX’s administrators remain satisfied with their efforts to recoup investors’ funds in the company.
“The situation has been stabilised and the dumpster fire is out,” the company’s lawyers told a bankruptcy judge in April.
They revealed that they had recovered more than $7billion of the $17billion owed when the exchange collapsed.
FTX is currently being run by John Ray III, a bankruptcy expert who took over at the firm following Sam Bankman-Fried’s resignation last November.
