FTX Eyes Fast Sale of Its $1.4 Billion Anthropic Stake
Highlights
- FTX exchange is moving quickly to sell its roughly 8% stake in AI company Anthropic, with the sale potentially valued at over a billion dollars.
- FTX has requested court approval for an expedited sale process, aiming for a decision in a court hearing scheduled for February 22.
- Anthropic had an estimated valuation of around $18 billion in December 2023, making FTX's stake worth approximately $1.4 billion.
The bankrupt cryptocurrency exchange FTX is making swift strides to liquidate its valuable assets, notably its approximately 8% stake in the AI company Anthropic. This sale, potentially worth over a billion dollars, is part of FTX’s broader strategy to address its bankruptcy situation, offering hope for creditors caught in the exchange’s financial turmoil.
FTX Seeks Court Approval for Expedited Sale
FTX has officially sought the green light from the bankruptcy court to proceed with the sale of its stake in Anthropic, an AI startup that has shown considerable promise and growth in the tech industry. The request includes a proposal to shorten the sale negotiation period, aiming for a court hearing on February 22. This expedited process is crucial for FTX, now under the management of John Ray III, who took over from former CEO Sam Bankman-Fried following the exchange’s financial downfall.
The court documents filed by FTX reveal the exchange’s stake at 7.84% in Anthropic, emphasizing the importance of a swift and efficient sale process to maximize the returns for the company’s creditors. The proposed methods for selling the shares, through either auction or private sale, underscore FTX’s strategic approach to navigate its bankruptcy proceedings effectively.
The Importance of Anthropic Valuation
Anthropic, recognized for its groundbreaking contributions to the artificial intelligence sector, was last valued at approximately $18 billion in December 2023. This valuation places FTX’s stake at around $1.4 billion, a significant asset that could play a pivotal role in settling the claims of creditors affected by the exchange’s bankruptcy. The move to sell the Anthropic stake is a crucial step in FTX’s liquidation process, ensuring that all payments are made to creditors and no parties are left at a disadvantage.
FTX’s legal team has highlighted the importance of confidentiality regarding the reference price for the shares, arguing that public disclosure could undermine the process of obtaining the most favorable offers for the Anthropic stake. This strategy reflects FTX’s commitment to achieving the best possible outcome for its creditors through the sale.
The sale of FTX’s stake in Anthropic is significant for the creditors of the bankrupt exchange and holds broader implications for the cryptocurrency and AI industries. The potential infusion of over a billion dollars from the sale could have ripple effects, influencing market perceptions and investor confidence in both sectors.
Read Also: FTX Reorganization Plan is a “Highway Robbery” – Ex-SEC Official
- Breaking: Michael Saylor’s Strategy Adds 220 Bitcoin Amid Crypto Market Dip
- Breaking: China Renaissance Bank Eyes $600M Raise for BNB-Focused Fund with YZI Labs
- Just-In: XRP Sees Strong Institutional Interest as ETF Approval Countdown Begins
- HYPE Token Gets Major Boost as Hyperliquid Launches HIP-3 Upgrade for Perp Market Creation
- BNB Price Soars 16% to Hit New ATH amid Changpeng “CZ” Zhao’s Bullish Push
- Bitcoin Price Mirrors March 2020 Crash as US–China Trade Easing Fuels Recovery
- PEPE Coin Price Reenters Historical Demand Zone as Whales Accumulate $5M— Can It Repeat Its 123% Rally?
- Bitcoin Price Prediction as Trump’s Tariff Shock Triggers $19B Liquidation
- Can $TAPZI Reach $1 In Q1 2026?
- Here’s Why XRP Price May Have a Zcash-Like Surge
- $TAPZI Price Prediction: What’s Ahead of the $TAPZI token Presale?
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
