Crypto by no means sleeps, and neither do its billion-dollar blunders.
In response to Wu Blockchain, AI code editor Cursor simply closed a jaw-dropping $900 million funding spherical at a $9 billion valuation.
In response to FT, AI code editor Cursor has accomplished $900 million in financing, with a valuation of $9 billion. Alameda invested $200k in its seed spherical in 2022, however was offered by FTX liquidators for $200k. The stake might presently be price round $500 million.… pic.twitter.com/sf53q1FvxR
— Wu Blockchain (@WuBlockchain) Could 6, 2025
However whereas high VCs like Thrive Capital, a16z, and Accel are celebrating, there’s one title obviously lacking from the winners’ circle: FTX. Right here’s why.
From $200K to $500M: What Went Fallacious?
Again in 2022, Alameda Analysis – FTX’s sister buying and selling agency – quietly invested $200,000 into Cursor’s seed spherical. Quick ahead to in the present day, and that stake may very well be price an estimated $500 million.
Sadly for FTX collectors, the platform’s liquidators offered it off for the precise quantity it was bought at: $200,000. No markup.Only a clear exit… from half a billion {dollars} in potential restoration. Ouch, proper?
Cursor’s Spectacular Rise
Cursor, constructed by Anysphere Inc., is attempting to redefine how builders write code. With a smooth split-screen interface and AI-powered chatbot, Cursor permits customers to automate complicated coding duties utilizing easy pure language prompts. It analyzes, breaks down duties, fetches context from documentation, and applies real-time adjustments.
Its engine runs on fashions from OpenAI and Google, together with its personal inside mannequin, Cursor-Quick. And with over $200 million in annual recurring income, the momentum is nice.
FTX’s Loss, Massive Tech’s Acquire?
This funding spherical wasn’t too hush-hush. Thrive Capital led the $900M funding, the identical agency that backed OpenAI’s $6.6B spherical final 12 months.
The excitement? OpenAI reportedly tried – and failed – to accumulate Anysphere earlier this 12 months. They’re now eyeing Windsurf (Exafunction Inc.) for as much as $3 billion as a substitute.
If we’re being actual…
This looks as if a significant loss for FTX. Is there greater than meets the attention? Guess we’ll know with time.



