The FTX Exchange has made a significant investment of $500 million in the promising AI startup, Anthropic, right from the beginning. However, as of June 1, this investment has been dissolved. The recent bankruptcy filing by Anthropic indicates that the FTX Estate, led by John Ray III, has sold off its remaining interest in the company.
Before the dissolution, FTX held around 15 billion Anthropic shares, with a value of approximately $30 per share. The total amount made from the sale is $450 million. It is worth noting that the price per share remained the same from the initial sale in March to this second sale.
The decision to sell the Anthropic investment was influenced by the ongoing FTX bankruptcy case. The company was facing increasing operational expenses, including legal and administrative fees, which amounted to millions of dollars. Additionally, the promised reimbursement to the affected creditors of the FTX collapse had not been fulfilled. Considering these factors, the company had no choice but to seek permission from the bankruptcy court to sell its interest.
FTX believed that liquidating its stake in Anthropic was the best way to pay off creditors and protect all parties involved. The request to proceed with the sale was granted by the US District Court for the District of Delaware’s Supreme Bankruptcy Court within a few weeks.
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