By Michael Scott
FTX intends to drop 29.4 million Anthropic shares to repay creditors. The embattled estate deploys the sale of assets strategy to make financial changes to firms and individuals that experienced losses due to FTX’s collapse.
The fallen crypto exchange has decided to sell its 29.4 million shares of Anthropic, an artificial intelligence (AI) developer. According to court documents filed on March 22, the total Anthropic shares’ value was $884,109,327.
Investment Groups Target FTX Shares in Anthropic
In February, John Dorsey, a United States federal judge, sanctioned plans to ultimately sell the shares in a motion filed in the United States Bankruptcy in Delaware. Court documents showed that a diverse group was purchasing the shares.
The investors seeking the shares include Jane Street Global Trading, ATIC Third International Investment Company, and funds managed by Fidelity Management & Research Company. ATIC Third International Investment Company is the highest bidder and is buying 16,664.167 shares worth half a billion dollars.
FTX Advances Plan to Sell Assets
The Ford Foundation and Picton Mahoney Asset Management are also among the buyers. Anthropic is on the list of more than 20 entities competing for shares in the firm in a possible bid to purchase back its shares. The Claude AI creator is tapping several Anthropic-associated purchasers.
Despite a request for comment, Anthropic failed to respond.
Talks concerning when FTX would try selling its $500M stake in Anthropic started last in the summer of 2023. This happened after a federal judge directing the FTX insolvency approved the idea of FTX selling part of its assets to recompense creditors as soon as January.
Precisely when the firm would sell became a question following reports that it was seeking to offload shares in the OpenAI competitor. Later in the month, it stopped the shares’ sale abruptly.
Another asset sold by FTX is Ledger X, a derivatives trading platform, for $50M, representing a significant loss in comparison to the $300M paid by the crypto exchange in 2021. Further, $3.4B in Ethereum, Solana, and Bitcoin were liquidated.