In a landmark decision aimed at compensating individuals and businesses impacted by the devastating collapse of FTX, the defunct cryptocurrency exchange has made arrangements to offload its 29.4 million shares in Anthropic, an AI developer. Court documents recently filed disclose that these Anthropic shares boast a collective value of $884,109,327.
Last month, U.S. Federal Judge John Dorsey granted approval to the plan to sell the shares, as per a motion submitted in the U.S. Bankruptcy Court in Delaware.
- The diverse group of buyers includes ATIC Third International Investment Company, Jane Street Global Trading, and funds managed by Fidelity Management & Research Company
- Top bidder ATIC Third International Investment Company is acquiring 16,664,167 shares for $500 million
Range of Buyers
The buyers list extends to The Ford Foundation and Picton Mahoney Asset Management. Additionally, Anthropic itself is among the 20+ entities competing to obtain shares as it potentially seeks to repurchase its own shares.
- Entities linked to Anthropic partaking in the sale include MW LSVC Anthropic, LLC, Anthropic Pine Road LLC, Hiive Anthropic Series I, and more
- This group secured 1.6 million shares valued at $47.8 million
FTX Asset Sale
FTX’s intention to sell its $500 million stake in Anthropic had been speculated upon since last summer. Reports suggested that FTX would divest its shares in the OpenAI competitor, although the sale was abruptly discontinued without prior notice.
- FTX has also sold off assets like the derivatives trading platform LedgerX for $50 million
- Additionally, the exchange liquidated $3.4 billion in Solana, Ethereum, and Bitcoin
FTX’s move to sell off its Anthropic shares signifies a crucial step in addressing the financial aftermath of its collapse. By agreeing to divest its stake in the AI developer, FTX aims to compensate those affected by its downfall while attempting to recover from the catastrophic event.
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