According to TechFlow, according to court documents, Mysten Labs reached an agreement with the FTX bankruptcy estate on Wednesday to purchase FTX’s equity investment in Mysten Labs and sui token warrants for US$96.3 million in cash.

The repurchase agreement marks FTX CEO John J. Ray III’s ongoing effort to maximize creditor recovery from Sam Bankman-Fried’s collapsed cryptocurrency exchange, a process that includes liquidating major assets in the FTX Ventures portfolio.

Mysten Labs offered to repurchase the assets in an offer to the FTX estate on March 16. Court documents show that before finally reaching a deal with Mysten, the FTX bankruptcy estate retained investment bank Perella Weinberg Partners (PWP) to solicit interest from other potential buyers. Original link