FTX’s Stake Sale
FTX, the bankrupt crypto exchange, is selling a majority stake in Anthropic, an AI startup, for $884 million. The move is part of FTX’s efforts to repay creditors and boost its cash reserves.
Anthropic’s Ownership Change
FTX initially invested $500 million in Anthropic in 2021. The startup has since attracted investments from Amazon and Google, valuing it at up to $6 billion. FTX’s bankruptcy estate currently owns an 8% stake in Anthropic.
FTX’s Financial Situation
FTX officials believe the sale will significantly contribute to repaying creditors. The exchange’s cash reserves were valued at $6.4 billion as of last month.
Approval for Sale
A US bankruptcy judge approved the sale of the Anthropic shares in February. Creditors initially had concerns, but FTX’s promise to use the proceeds to repay them convinced them to approve the proposal.
Future of Anthropic
The sale of the majority stake does not diminish Anthropic’s position as a key AI startup. Its previous investments from Amazon and Google have strengthened its position in the field.
FTX’s Reorganization
The sale of the Anthropic stake is an important step in FTX’s bankruptcy reorganization process. By selling its stake, FTX aims to repay creditors and strengthen its financial position.
FTT Token Performance
FTX’s native token, FTT, has rebounded 9% in the last 24 hours and has surged 74% year-to-date.
