Part of the payback was due to successful investments made by Bankman Fried during his tenure at FTX. The company had invested $500 million in artificial intelligence company Anthropic in 2021. The boom in the AI industry has made these stocks even more valuable. This year, Ray's team sold about two-thirds of its FTX stock for $884 million.
FTX also reached an agreement to recover more than $400 million. modulo capital, a hedge fund financed by Bankman Freed. FTX's lawyers then filed a lawsuit to recover funds from former company executives, including Bankman Fried. parents.
here NYT full textnoted that the account holder did not receive a (substantial) gain in the value of the Bitcoin that would have otherwise occurred.