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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.

By Amitoj Singh
AccessTimeIconFeb 23, 2024 at 6:17 a.m. UTC
Updated Mar 8, 2024 at 10:03 p.m. UTC
John J Ray III FTX CEO in November (House Committee on Financial Services)
John J Ray III FTX CEO in November (House Committee on Financial Services)
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  • 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

Edited by Parikshit Mishra.

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CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

Amitoj Singh
Amitoj Singh

Amitoj Singh is a CoinDesk reporter.

Follow @amitoj on Twitter

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