FTX Plans to Sell Stake in AI Startup Anthropic
Bankrupt cryptocurrency exchange FTX is preparing to sell its 8% stake in AI startup Anthropic, which received a $500 million investment from FTX’s former CEO, Sam Bankman-Fried. FTX has filed a motion asking a judge to approve the sale, with a request to shorten the deliberation period so it can be heard at the bankruptcy court’s next hearing on February 22.
Sale Options and Valuation
The filing reveals that FTX holds a 7.84% stake in Anthropic and presents two options for selling the stake: an auction or a private sale. The price FTX is seeking for the shares has been redacted. Anthropic was valued at $18 billion in December 2023, potentially giving FTX’s stake a value of around $1.4 billion.
Potential Recovery for Victims
The value of the Anthropic shares offers hope for victims of the FTX collapse, as FTX expects to have enough funds to pay all customer and creditor claims in full.
Hot Take: FTX Seeks to Liquidate Stake in Anthropic
Bankrupt crypto exchange FTX is looking to sell its 8% stake in AI startup Anthropic, which could be worth around $1.4 billion. This move comes as part of FTX’s efforts to settle its debts and compensate victims of its collapse. By selling the stake, FTX aims to generate funds that can be used to fulfill customer and creditor claims. The exact selling price has not been disclosed, but it is expected that the sale will take place through either an auction or a private sale. The outcome of this sale will significantly impact FTX’s ability to provide restitution to those affected by its bankruptcy.
Theon Barrett shines as a distinguished crypto analyst, accomplished researcher, and skilled editor, making significant strides in the field of cryptocurrency. With an astute analytical approach, Theon brings clarity to intricate crypto landscapes, offering insights that resonate with a broad audience. His research prowess goes hand in hand with his editorial finesse, allowing him to distill complex information into accessible formats.