The estate for bankrupt crypto exchange FTX wants to sell its shares of artificial intelligence (AI) startup Anthropic, court filings from Friday show.

A motion seeking a court order approving proposed sale procedures for the stake says Sam Bankman-Fried’s FTX estate owns around 7.84% of Anthropic as of January 2024. FTX and sister investment firm Alameda invested $500 million in Anthropic in 2021.

While the estate sought to sell the sought-after stake last year, it was paused in June 2023 after months of due diligence by potential bidders.

Setting up the sales procedures now will let the estate “coordinate the most optimal and appropriate time for the sale of Anthropic Shares in conjunction with Anthropic’s capital raising efforts” and maximize the value of the estate “for the benefit of all stakeholders" Friday’s filing said.

A hearing on the matter could take place later this month.

Regulations FTX Anthropic AI

Sandali Handagama

Sandali Handagama is CoinDesk's deputy managing editor for policy and regulations, EMEA. She is an alumna of Columbia University's graduate school of journalism and has contributed to a variety of publications including The Guardian, Bloomberg, The Nation and Popular Science. Sandali doesn't own any crypto and she tweets as @iamsandali