Why did Dave buy back $100m note from FTX?

Fintech Dave buys back $100M note from troubled FTX for $71M, distancing from crypto amid expansion and FTX's legal woes. Fintech firm Dave has decided to distance itself from the troubled crypto exchange FTX. Dave announced its plan to repurchase a $100 million convertible promissory note from FTX Ventures, the venture capital arm of FTX.

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.