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Will Dave buy FTX's $100 million convertible promissory note?

Fintech firm Dave will purchase a convertible promissory note worth $100 million at a discounted rate, paying $71 million to FTX liquidators. Court approval is pending for the deal.

Will FTX buy a $100-million convertible promissory note?

Court approval is pending for the deal. Fintech firm Dave has announced an agreement to purchase a $100-million convertible promissory note previously issued to FTX Ventures, the venture capital arm of bankrupt crypto exchange FTX. As per the agreement, Dave will purchase the note for $71 million at a discounted price.

Did Dave buy back a $100 million convertible promissory note?

In a significant move, fintech firm Dave has decided to buy back a $100 million convertible promissory note. This note is from FTX Ventures, the venture capital arm of the now-bankrupt crypto exchange FTX. They plan to purchase it for $71 million. Consequently, this decision is a strategic pivot for Dave.

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Risk warning: Digital asset trading is an emerging industry with bright prospects, but it also comes with huge risks as it is a new market. The risk is especially high in leveraged trading since leverage magnifies profits and amplifies risks at the same time. Please make sure you have a thorough understanding of the industry, the leveraged trading models, and the rules of trading before opening a position. Additionally, we strongly recommend that you identify your risk tolerance and only accept the risks you are willing to take. All trading involves risks, so you must be cautious when entering the market.

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