FTX's founder, Sam Bankman-Fried, was found guilty of stealing billions from customers and is due to be sentenced on March 28. Despite this, FTX plans to pay all customers in full and retain flexibility in selling its shares at the most optimal time. The sale of the Anthropic shares is part of a court-supervised effort by FTX to liquidate assets and reimburse customers. The AI startup Anthropic, which had a valuation of $18.4 billion before its last reported funding round, has been attracting significant investment interest.
Key takeaways:
- A U.S. judge has approved FTX's proposal to sell its shares in AI startup Anthropic to repay customers who lost access to their accounts when the crypto exchange collapsed in 2022.
- FTX had invested $500 million in Anthropic in 2021, acquiring a 13.56% equity stake, which has since been diluted to 7.84% due to fundraising.
- FTX's founder, Sam Bankman-Fried, was found guilty of stealing billions from customers and is set to be sentenced on March 28.
- Anthropic, the AI startup, had a valuation of $18.4 billion before a reported round of fundraising where it was in talks to raise $750 million.