FTX Customers Could Get Full Payout Thanks to Google and Amazon Investments in AI Startup
If you were a customer of the now-collapsed crypto exchange FTX, there may be hope for you to get your money back. This is thanks to FTX’s early investment in Anthropic, a parent company of Claude and a rival to Open AI. Anthropic is currently experiencing a massive influx of investment from tech giants Google and Amazon.
In April 2022, FTX invested $500 million in Anthropic when the AI startup was relatively unknown. However, after the successful release of chatbots like ChatGPT, Anthropic has emerged as a top contender in the AI industry.
Anthropic in Talks for $2 Billion Funding Round
According to sources familiar with the matter, Anthropic is currently in discussions to raise $2 billion in fresh funding this week. This news comes shortly after Amazon’s announcement that it plans to invest up to $4 billion in the company. If successful, these new investments could potentially increase Anthropic’s valuation to $20-30 billion.
The FTX 2.0 Coalition, a group representing creditors, speculated on Twitter that if Anthropic reaches a $30 billion valuation, FTX’s stake could be worth around $4.5 billion.
Uncertain Value and Timeline for FTX’s Anthropic Shares
It remains unclear how much FTX’s shares in Anthropic are currently worth or how long it would take for them to be sold or for Anthropic to go public. However, since Google’s investment at a $2.7 billion valuation in February, the value of Anthropic has soared. This investment came almost a year after FTX initially funded the startup.
FTX recently filed court documents stating that it requires $4.5 billion to fully reimburse its customers. Meanwhile, customer claims amount to $16 billion, while FTX holds $11.5 billion in assets, including its venture portfolio and crypto reserves. If Anthropic’s investments help bridge the gap, it could bring relief to FTX users waiting for repayment.
Hot Take: FTX’s Chance for Redemption with Anthropic’s Success
FTX’s investment in Anthropic has turned out to be a potential lifeline for the exchange’s customers. With Google and Amazon pouring billions into Anthropic, the AI startup has quickly become a major player in the industry. If Anthropic’s valuation reaches $30 billion, FTX could recoup a significant portion of its investment and potentially repay its customers in full. This outcome would not only restore faith in FTX but also highlight the power of strategic investments in emerging technologies.
By
By
By
By
By