The Latest on FTX: Court Approves Liquidation of AI Anthropic Shares
If you’re a crypto enthusiast, here’s an update on the FTX saga. A bankruptcy judge recently gave the green light for the restructuring company Kroll to liquidate FTX’s stake in the startup AI Anthropic. This move is a step towards repaying the exchange’s creditors and recovering lost funds.
- FTX’s shares in Anthropic represent 7.84% of the company.
- The value of these shares has doubled to about $1 billion.
- FTX’s investment in Anthropic was initially diluted but has now become more valuable.
Other Liquidations and User Refunds
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Aside from the liquidation of its stake in Anthropic, FTX has been selling off assets to repay users and creditors:
- Last year, LedgerX was sold to M7 Holdings for $50 million.
- In September, FTX liquidated cryptocurrencies from its wallets, including SOL, BTC, ETH, and APT.
- FTX also received authorization to sell $873 million in Grayscale and Bitwise trusts.
- The total sum amassed by FTX is now $6.4 billion (liquid).
Hot Take: Repayment and Legal Proceedings
As FTX works towards repaying its debts, former CEO Sam Bankman Fried faces legal consequences:
- Bankman Fried is currently in prison facing a 110-year sentence.
- The final verdict for Bankman Fried is expected on March 28, 2024.
