FTX has applied to the court for permission to quickly sell 8% of Anthropic’s shares

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FTX has applied to the court for approval to quickly sell nearly 8% of its shares in artificial intelligence company Anthropic, with expected proceeds of more than 1 billion USD.

After going bankrupt in November 2022, cryptocurrency exchange FTX is focusing on liquidating its most illiquid assets, including an 8% stake in Anthropic, an AI startup that FTX acquired. previously invested and holds a large amount of shares, estimated to be up to 500 million USD.

FTX

In addition to the proposal to approve the sale of shares in Anthropic, FTX, led by new CEO John Ray III, also submitted another proposal to shorten the review time in the next court hearing on February 22, with the deadline Deadline for objections is February 15.

FTX owns exactly 7.84% of shares in Anthropic and proposes to sell through auction or private sale. FTX’s lawyers argued that they did not want to publish prices to ensure maximum profits for stakeholders.

Anthropic, founded by former OpenAI employees, is considered a significant competitor of ChatGPT and has attracted investments from large companies such as Google, Amazon, Zoom… Latest valuation of Anthropic, calculated by December 2023, it is 18 billion USD, meaning a value of about 1.4 billion USD for FTX’s shares. This is also seen as a “light at the end of the tunnel” for stakeholders after the shock of the bankruptcy scandal. FTX also committed to fully repaying customers and creditors, according to the recent announcement of “letting go” of their intention to revive. Recently, FTX has increased its crypto sales and is expected to sell $1 billion in GBTC shares to compensate users.