The sale of FTX’s $500 million stake in artificial intelligence startup Anthropic has hit a roadblock, as the advisory investment bank Parella Weinberg Partners has reportedly put the sale on hold.
This development poses a potential delay in FTX’s efforts to address the $2 billion deficit remaining in its balance sheet following its bankruptcy.
Multiple parties had shown interest in purchasing FTX’s stake in Anthropic, making it a significant opportunity for monetary recovery.
At the time of FTX’s bankruptcy in November, it held $500 million worth of Anthropic stock. However, with the current AI boom, the value of this stake is expected to have significantly increased.
In May, Anthropic achieved a reported valuation of $4.6 billion and secured $450 million in its latest funding round. Anthropic’s AI chatbot, “Claude,” offers various applications, including sales, customer service, and web searches.
FTX‘s restructuring chief, John Ray, recently alleged that $8.7 billion in user funds were misappropriated, with approximately $7 billion recovered thus far.
Ray’s report also highlighted FTX’s investments in niche non-crypto-related projects through grants, venture capital firms, a $243 million Bahamian real estate portfolio, and donations to non-profits and a political action committee linked to Gabe Bankman-Fried, the younger brother of FTX co-founder Sam Bankman-Fried.
The pause on the sale of FTX’s Anthropic stake comes at a crucial time for the exchange’s recovery efforts. FTX had been seeking to fill the remaining $2 billion gap in its balance sheet, and the sale of the stake could have provided a significant monetary recovery. However, with the current delay, the process might be further prolonged.
