Crypto-exchange FTX made two venture capital investments in Dave and Mysten Labs, using $100 million in client funds each. This is stated in two complaints filed with the SEC.
The companies themselves are not involved in any wrongdoing, but FTX customers may be seeking a right to recover those investments.
Dave CEO Jason Wilk said the project plans to repay the FTX investment by 2026. As for the financing in Mysten Labs, they are considered an equity transaction, and under U.S. law there is no clearly defined mechanism for repayment of these funds.
