U.S. SEC: FTX's investments in Dave and Mysten Labs, if sourced from customer funds, can be recovered as customer assets

2022-12-29 09:18:16

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ChainCatcher news, CNBC reports, the U.S. Securities and Exchange Commission (SEC) stated that SBF made two $100 million venture investments through FTX subsidiaries using customer funds, specifically in Dave and Mysten Labs. If these two $100 million investments can be clearly linked to customer funds, there may be a possibility of recovery.

"The two $100 million investments made by FTX's affiliate investment tool FTX Ventures were funded by FTX customer funds, which had been transferred to Alameda." If the FTX bankruptcy trustee can determine that customer funds financed SBF's investments, they could recover these funds as part of the effort to reclaim customer assets.

Previously reported, in March this year, the banking app Dave received a $100 million investment from FTX Ventures; in September, the Sui development team Mysten Labs completed a $300 million financing round, led by FTX Ventures. (source link)

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