Bankrupt cryptocurrency exchange FTX is preparing to sell its most important remaining illiquid asset, its 8% stake in the valuable AI startup Anthropic, but Anthropic will be closed in October 2021. received a $500 million investment from former FTX CEO Sam Bankman Fried.
The company, currently led by CEO John Ray III, has filed a motion asking a judge to approve the sale of FTX’s Anthropic stake. The company also filed a separate motion to shorten the consideration period for the sale motion to be considered at the Bankruptcy Court’s next hearing on February 22nd. The deadline to appeal the complaint is February 15th.
of filing reveals the exact size of FTX’s Anthropic stock (7.84%) and shows the two main steps through which the stock can be sold: auction and private sale. FTX’s lawyers redacted the price they were seeking for Anthropic’s shares, stating that “disclosure of the reference price could adversely affect the debtors’ goal of obtaining a higher and better offer for Anthropic’s shares.” There is,” he claimed.
Anthropic’s latest valuation is: $18 billion Once realized in December 2023, FTX stock will be worth approximately $1.4 billion. The value of Anthropic stock has proven to be quite a silver lining for victims of the FTX bankruptcy, with FTX actually expecting to have enough funds to pay customer and creditor claims in full.
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