FTX to Sell $884 Million Worth of Shares in AI Developer Anthropic

In a bid to rectify financial losses incurred by stakeholders impacted by the collapse of FTX, the failed crypto exchange has announced a significant move. FTX is set to sell its entire stake of 29.4 million shares in AI developer Anthropic, with a combined value of $884,109,327.

This decision, outlined in court documents filed recently, comes as part of FTX’s efforts to fulfill its obligations to individuals and businesses affected by its downfall. The sale was approved by U.S. Federal Judge John Dorsey last month, following a motion filed in the U.S. Bankruptcy in Delaware.

The buyers of the Anthropic shares include a diverse group of entities, with ATIC Third International Investment Company emerging as the top bidder. This company will acquire 16,664,167 shares for $500 million. Other notable buyers include Jane Street Global Trading, funds managed by Fidelity Management & Research Company, The Ford Foundation, and Picton Mahoney Asset Management.

Interestingly, Anthropic itself is among the entities seeking to acquire shares, indicating a potential bid to buy back its own shares. Anthropic-related buyers such as MW LSVC Anthropic, LLC, Anthropic Pine Road LLC, and Hiive Anthropic Series I and II have collectively purchased 1.6 million shares worth $47.8 million.

The sale of FTX’s Anthropic shares has been anticipated since last summer when reports suggested the exchange’s intention to offload its stake in the AI developer. However, the sale was temporarily halted without notice, raising questions about its timing and execution.

This move follows FTX’s liquidation of other assets, including the derivatives trading platform LedgerX for $50 million, as well as $3.4 billion in Solana, Ethereum, and Bitcoin. Despite facing setbacks, FTX remains committed to fulfilling its financial obligations and navigating through its bankruptcy proceedings.

In a bid to rectify financial losses incurred by stakeholders impacted by the collapse of FTX, the failed crypto exchange has announced a significant move. FTX is set to sell its entire stake of 29.4 million shares in AI developer Anthropic, with a combined value of $884,109,327. This decision, outlined in court documents filed recently,…