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Post: FTX Seeks to Sell Stake in AI Firm Anthropic in Bankruptcy Case

FTX Seeks to Sell Stake in AI Firm Anthropic in Bankruptcy Case

Key Points:

  • Bankrupt crypto exchange FTX is seeking court approval to sell its entire stake in AI firm Anthropic, worth about $1.4 billion.
  • FTX submitted a motion to the United States Bankruptcy Court for the District of Delaware to sell the Anthropic stock owned by its sister company, Alameda Research.
  • The investment in Anthropic was made by FTX’s former CEO, Sam Bankman-Fried, with funds originally from customers’ deposits on FTX.

FTX Seeks to Sell Stake in AI Firm Anthropic in Bankruptcy Case

Bankrupt crypto exchange FTX has filed a motion with the United States Bankruptcy Court for the District of Delaware to sell its entire stake in artificial intelligence company Anthropic. The stake, worth approximately $1.4 billion, is owned by FTX’s sister company, Alameda Research. FTX’s former CEO, Sam Bankman-Fried, invested $530 in Anthropic in April 2022, using capital that originated from customers’ deposits on FTX. The motion is part of FTX’s bankruptcy case.

Hot Take:

FTX’s move to sell its stake in Anthropic allows the exchange to recoup some value from its bankruptcy proceedings. Bankman-Fried’s investment in the AI company using customer deposits raises questions about financial management and the protection of customer funds. This sale could provide some financial relief for FTX, but it also highlights the risks associated with co-mingling customer deposits with company investments.

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