Ramazan Eles 
Bankrupt crypto exchange FTX secured court approval on February 22nd to sell its 8% stake in AI startup Anthropic, potentially adding over $1 billion to funds earmarked for creditors.
Anthropic’s recent valuation of $15 billion translates FTX’s 8% stake to over $1 billion, significantly exceeding their initial $530 million investment in April 2022.
The sale was approved despite objections from some customers who argued the stake was purchased with misappropriated funds. A compromise allows the sale to proceed, with these customers potentially having a claim to the benefits later.
FTX initially aimed to restart its operations but shifted to liquidation to repay creditors. The Anthropic sale proceeds will join existing assets, totaling over $7 billion, to compensate users and other entities.
Selling the stake aligns with FTX’s broader strategy to maximize returns for creditors during its bankruptcy proceedings.
The outcome of this and other asset sales is crucial for determining the extent of recovery for stakeholders impacted by FTX’s collapse.
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