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FTX bankruptcy trustees secure $404 million in investments

The trustees (court-appointed to manage FTX's assets and liabilities) have received $404 million from Modulo Capital, a Bahamas-based investment company.

By Luc Vesters
• 2 min read
FTX bankruptcy trustees secure $404 million in investments

The trustees (court-appointed to manage the assets and liabilities) of FTX have received $404 million from Modulo Capital, a Bahamas-based investment company. According to the filing from March 22, Sam Bankman-Fried last year invested about $475 million in Modulo.

An agreement was reached "after productive negotiations with the Modulo entities and their clients," according to the filing. Modulo has agreed to repay $404 million in cash. The firm is writing off its $56 million asset claim, according to the document.

Xiaoyun "Lily" Zhang founded Modulo Capital in March 2022. Bankman-Fried reportedly had a romantic relationship with her, according to the NY Times. Some View post on Xsee this as the motive for the investment. Recently, creditors of the crashed crypto exchange demanded nine billion dollars from Grayscale.

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