Mysten Labs to buy back its shares and token warrants from FTX for $96M

Mysten Labs' offer to FTX comprises $95M in preferred stock and $1M worth of $SUI token warrants. This financial derivative grants its holder the right to purchase tokens at a given price under certain conditions. Previously, FTX Ventures had led Mysten Labs’ Series B funding round, and invested $102M in Mysten Labs just months before collapse. Mysten Labs’ developer network for Sui is live, with a full launch slated for Q2 2023.

Mysten Labs to buy back its shares and token warrants from FTX for $96M

Mysten Labs' offer to FTX comprises $95M in preferred stock and $1M worth of $SUI token warrants. This financial derivative grants its holder the right to purchase tokens at a given price under certain conditions. Previously, FTX Ventures had led Mysten Labs’ Series B funding round, and invested $102M in Mysten Labs just months before collapse. Mysten Labs’ developer network for Sui is live, with a full launch slated for Q2 2023.