FTX Estate Can Sell Near 8% Stake in AI StartUp Anthropic, Court Rules
The motion to sell around 7.84% of Anthropic that FTX held as of January 2024 had been filed in early February 2024.
Updated Mar 8, 2024, 10:03 p.m. Published Feb 23, 2024, 6:17 a.m.
- FTX's request to sell its stake in Anthropic has been granted by a court.
- FTX and sister investment firm Alameda invested $500 million in Anthropic in 2021.
The FTX bankruptcy estate has been granted approval to sell its stake in artificial intelligence (AI) startup Anthropic, court filings from Thursday show.
The motion to sell around 7.84% of Anthropic held by FTX had been filed in early February 2024. An initial attempt to sell the stake was made in June 2023, but was paused after months of bidders’ due diligence.
FTX and its sister firm Alameda invested $500 million in Anthropic in 2021. The valuation of the Anthropic stake may hover around 1 billion as Anthropic’s valuation had tripled to $15 billion.
In January 2024, the FTX estate said it expects to fully repay its customers. Sam Bankman-Fried, the former FTX boss, is due to be sentenced next month after being found guilty of fraud last year, with his prison duration expected to be hotly contested.
Read More: FTX Expects to Fully Repay Customers but Won't Restart Defunct Crypto Exchange
Amitoj Singh
Amitoj Singh is a CoinDesk reporter focusing on regulation and the politics shaping the future of finance. He also presents shows for CoinDesk TV on occasion. He has previously contributed to various news organizations such as CNN, Al Jazeera, Business Insider and SBS Australia. Previously, he was Principal Anchor and News Editor at NDTV (New Delhi Television Ltd.), the go-to news network for Indians globally. Amitoj owns a marginal amount of Bitcoin and Ether below CoinDesk's disclosure threshold of $1,000.
