Anthropic, a competitor of OpenAI, recently secured a capital raise of up to $4 billion from Amazon and $2 billion from Google, among other investors. This news is significant for FTX creditors who are looking to recover their funds following the collapse of the crypto exchange. FTX had invested $500 million in Anthropic before its collapse in 2022, although the exact amount paid for the stake is unclear. With the recent funding rounds led by Amazon and Google, it is expected that Anthropic’s overall worth will increase, benefiting both Anthropic and FTX.
Kunchou Tsai, the managing partner of Enlighten Law Group, believes that with the influx of new funds and a potential increase in company valuation, FTX could achieve a “100% recovery rate” in assets through the bankruptcy proceedings. Kris Marszalek, CEO of Crypto.com, also tweeted about the possibility of maximizing recovery chances if FTX liquidators act wisely for creditors’ benefit.
However, there are still uncertainties and challenges regarding FTX’s stake in Anthropic. One concern is the timing for FTX’s bankruptcy restructuring team to sell off their stake, which may depend on when Anthropic becomes a publicly traded company or special circumstances arise. Sam Bankman-Fried, the founder of FTX, is facing lawsuits from various entities that could impact the priority and distribution of Anthropic’s stake.
Despite these challenges, Thomas Braziel from 117 Partners and 507 Capital sees the raise as positive news for creditors. The potential improved recovery has led to active trading of FTX bankruptcy claims in the over-the-counter market.
In conclusion, Anthropic’s successful capital raise brings hope for FTX creditors seeking to recover their funds. While there are still uncertainties and legal challenges to overcome, the increased valuation of Anthropic could greatly benefit both companies. This positive development has also sparked trading activity in FTX bankruptcy claims.
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