Dave, an American online bank, plans to repurchase $100 million convertible bonds at a discount from FTX.
American online bank Dave received a $100 million investment from FTX Ventures in March 2022. Following FTX’s bankruptcy, Dave issued a press release, stating that it would repurchase $71 million worth of convertible bonds held by FTX. This action aims to minimize the impact of FTX’s liquidation on other investors of Dave and help FTX creditors recover a portion of misused funds.
