FTX Exchange Seeks Approval to Sell Anthropic Shares: A Move to Settle Debts

Defunct crypto exchange FTX has filed court documents requesting permission to sell its shares in the artificial intelligence (AI) company Anthropic. This move is part of the exchange’s strategy to fully repay its creditors and customers.

The court documents, filed on February 3, show that the FTX exchange intends to sell Alameda Research’s Anthropic Series B Preferred Stock and any related rights or interests.

Sam Bankman-Fried (SBF), the founder and former CEO of FTX, invested around $530 in Anthropic in April 2022, months before the company faced significant challenges and ultimately failed in November of the same year.

At the end of Anthropic’s Series B fundraising in April 2022, Alameda Research owned around 13.56%. Subsequent fundraising rounds resulted in the issuance of additional stocks, reducing Alameda’s stake to over 7% by January.

By December, Anthropic’s valuation had reached over $18 billion, and Alameda’s stake was worth around $1.4 billion.

Note that FTX is requesting an expedited review of its sale motion, hoping to resolve the matter at the next bankruptcy court hearing on February 22.

The urgency of divesting from Anthropic is consistent with FTX’s commitment to repaying its users and creditors in full.

The exchange’s new management, led by legal counsel Andy Dietderich, has rejected proposals to relaunch the FTX exchange, citing the ability to meet all financial obligations.