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Is Amazon’s investment in Anthropic a win for FTX creditors?

Sep 25, 2023 - blockworks.co
Amazon is set to invest up to $4 billion in artificial intelligence company Anthropic, a firm in which the bankrupt exchange FTX had a $500 million stake. This investment could potentially increase the value of FTX's stake in Anthropic, providing a potential win for FTX's creditors. The exchange, currently undergoing bankruptcy proceedings, had previously paused the sale of its stake in Anthropic.

The Amazon investment comes just days before the deadline for FTX customers to submit proof of claims. FTX is also set to start selling up to $100 million worth of its digital assets per week, following approval from a judge. The trial for former FTX CEO Sam Bankman-Fried is set to begin on Oct. 3.

Key takeaways:

  • Amazon is set to invest up to $4 billion in AI-focused company Anthropic, a firm in which the bankrupt exchange FTX has a $500 million stake.
  • The Amazon investment could potentially raise Anthropic's valuation and therefore increase the value of FTX's stake, which could be beneficial for FTX's creditors.
  • FTX is currently navigating the bankruptcy process and has paused the sale of its stake in Anthropic.
  • The deadline for FTX customers to submit proof of claims is Sept. 29, as set by the US bankruptcy court in June.
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