Mysten Labs has spent $96 million to buy back shares from FTX

ChainCatcher news, according to The Block, Mysten Labs has spent $96 million to buy back shares from FTX, and this total buyback price of $96 million also includes the buyback of "all warrants related to FTX's purchase of Sui Token."

Evan Cheng, co-founder and CEO of Mysten Labs, stated, "Mysten Labs is pleased to complete this transaction, which demonstrates our confidence in our capabilities, technology, and partnerships."

ChainCatcher previously reported that the Sui development team, Mysten Labs, announced the completion of a $300 million financing round in September 2022, led by FTX Ventures, with participation from a16z Crypto, Jump Crypto, A&T Capital, Binance Labs, Coinbase Ventures, Bixin Ventures, Circle Ventures, and Lightspeed Venture Partners.

The native token of the Sui network, SUI, is set to launch on trading platforms such as OKX, Bybit, and Kucoin, all of which have introduced a subscription mechanism for the Sui Token WL whitelist. (source link)