8% Of The FTX Stake In Anthropic Could Be Sold Completely
- A bankrupt company seeks court approval to sell an 8% FTX stake in Anthropic, anticipating over a billion in revenue.
- The former CEO’s $530 million investment from customer deposits prompts the urgent sale of Anthropic stake in October 2021.
FTX, currently navigating bankruptcy proceedings, is seeking court approval to sell its approximately 8% stake in the artificial intelligence company Anthropic, potentially yielding over a billion dollars in revenue.
Bankrupt company Seeks Court Approval for Billion-Dollar Sale of FTX Stake in Anthropic Amid Bankruptcy
The request, filed with the United States Bankruptcy Court for the District of Delaware on February 3, involves selling Anthropic Series B Preferred Stock, including associated rights and interests, owned by FTX’s sister company, Alameda Research.
The company urgently moved to sell its FTX stake in Anthropic in October 2021, driven by the need to address its financial challenges. Former CEO Sam Bankman-Fried, who invested $530 million in Anthropic in April 2022, sourced the capital from customers’ deposits on FTX, as revealed during the legal trial in October 2023. The current CEO, John Ray III, has filed a petition to expedite the sale process, with a hearing scheduled for February 22 and objections accepted until February 15.
The court filing discloses a 7.84% FTX stake in Anthropic and proposes two selling methods: auction or private sale. FTX’s legal team argues against public disclosure of the reference price, stating it could undermine their goal of obtaining higher offers for the Anthropic shares.
Former CEO’s Controversial Investment Drives Urgent Sale as FTX Reveals $1.4 Billion Asset at Stake
Anthropic, valued at $18 billion in December 2023, saw Alameda’s stake diluted to 7.84%. FTX’s potential revenue from the stake is approximately $1.4 billion, a valuable resource for creditors amid the exchange’s bankruptcy.
Despite customer and claimant concerns, FTX aims for a liquidation, ensuring all payments are met and avoiding losses for any party involved. The court will address FTX’s request in a session on February 22.
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