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- Qadir AK
Qadir AK
Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.
- Updated by:
Zameer Attar
- Reviewed by:
Zafar Naik - May 06, 2025 11:41 UTC
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FTX Sold Cursor Stake for $200K – Now It’s Worth $500 Million
FTX liquidators sold a $200K Cursor stake that’s now worth an estimated $500M.
Cursor raised $900M at a $9B valuation, backed by Thrive Capital, a16z, and Accel.
The AI code editor is seeing explosive growth, with ARR reportedly surpassing $200M.
Crypto never sleeps, and neither do its billion-dollar blunders.
According to FT, AI code editor Cursor just closed a jaw-dropping $900 million funding round at a $9 billion valuation.
But while top VCs like Thrive Capital, a16z, and Accel are celebrating, there’s one name glaringly missing from the winners’ circle: FTX. Here’s why.
From $200K to $500M: What Went Wrong?
Back in 2022, Alameda Research – FTX’s sister trading firm – quietly invested $200,000 into Cursor’s seed round. Fast forward to today, and that stake could be worth an estimated $500 million.
Unfortunately for FTX creditors, the platform’s liquidators sold it off for the exact amount it was purchased at: $200,000. No markup.Just a clean exit… from half a billion dollars in potential recovery. Ouch, right?
Cursor’s Impressive Rise
Cursor, built by Anysphere Inc., is trying to redefine how developers write code. With a sleek split-screen interface and AI-powered chatbot, Cursor allows users to automate complex coding tasks using simple natural language prompts. It analyzes, breaks down tasks, fetches context from documentation, and applies real-time changes.
Its engine runs on models from OpenAI and Google, along with its own internal model, Cursor-Fast. And with over $200 million in annual recurring revenue, the momentum is great.
FTX’s Loss, Big Tech’s Gain?
This funding round wasn’t too hush-hush. Thrive Capital led the $900M investment, the same firm that backed OpenAI’s $6.6B round last year.
The buzz? OpenAI reportedly tried – and failed – to acquire Anysphere earlier this year. They’re now eyeing Windsurf (Exafunction Inc.) for up to $3 billion instead.
If we’re being real…
This seems like a major loss for FTX. Is there more than meets the eye? Guess we’ll know with time.
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FAQs
FTX collapsed in November 2022 after it was revealed that the company misused customer funds and faced a massive liquidity crisis. This led to bankruptcy, legal investigations, and major losses for users and investors.
FTX lawsuits aim to recover missing crypto assets from companies and individuals. These recovered assets will directly contribute to increasing the FTX repayment pool for creditors.
Yes 
No 
