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
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.
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