FTX Creditors Rejoice: Bankrupt Crypto Exchange to Add $1 Billion to Its Balance Sheet

FTX to Sell $1 Billion Anthropic Stake

  • US Bankruptcy Judge John Dorsey approves FTX’s proposal to sell its 7.84% shares in Anthropic.
  • FTX filed a motion on February 3 to auction off its Anthropic Series B stock.
  • FTX invested over $500 million in Anthropic in 2021.
  • Anthropic’s valuation is expected to reach $15 billion, elevating the worth of FTX’s stake to over $1 billion.

Stake Funds Allocated for Creditors

  • FTX plans to use the sale proceeds to repay its creditors.
  • FTX founder Sam Bankman-Fried was found guilty of fraud and money laundering in December 2023.
  • Creditors initially rejected FTX’s plan to sell its Anthropic stake, but later approved it after the exchange committed to using the proceeds to settle creditors.
  • Repayments will be based on the prices of crypto assets during FTX’s bankruptcy proceedings over a year ago.