According to a proposed deal disclosed in U.S. Bankruptcy Court in Wilmington, Delaware, Mysten Labs will buy back from bankrupt cryptocurrency exchange FTX Trading Ltd. for about $95 million, the Wall Street Journal reported. Purchase Mysten Labs Preferred Shares and SUI Token Warrants purchased by FTX. FTX paid about $101 million for the preferred shares last August. Creditors are vying for assets held by FTX and its affiliates after FTX filed for Chapter 11 bankruptcy last November. Foresight News previously reported that in September 2022, Sui development team Mysten Labs completed a $300 million financing led by FTX Ventures, with participation from a16z Crypto, Jump Crypto, Apollo, Binance Labs, Franklin Templeton, Coinbase Ventures, Circle Ventures and Lightspeed Venture Partners, A&T Capital.