FTX moves to offload 8% Anthroponic share.
Bankrupt crypto exchange FTX is seeking court approval to sell its stake in artificial intelligence firm Anthroponic, according to a Feb. 3 court filing.
FTX has filed a petition in the United States Bankruptcy Court for the District of Delaware to sell Anthropoc Series B Preferred Stock, including rights or interests held by sister company Alameda Research.
The exchange's former CEO, Sam Bankman-Fried, invested about $530 in Anthropix in April 2022 — seven months before the empire collapsed that same year. According to evidence presented during the Bankman-Fried legal trial in October 2023, the capital invested in the AI startup was initially customer deposits on FTX.
Alameda will hold 13.56% of Anthropogenic after the Series B financing closes in April 2022. Anthroponic issued additional securities in subsequent funding rounds, bringing Alameda's participation to 7.84% since January. Anthroponic was valued at $18 billion as of December, bringing Alameda's stake in the company to about $1.4 billion.
FTX is seeking to shorten the review period for the sale request, targeting a decision at a Feb. 22 bankruptcy court hearing.
“The flexibility to adjust the timing of sales helps facilitate such cooperation, including allowing debtors to hold excess interest in Anthropic equity securities from any Anthropic financing rounds. Additionally, given the large number and value of Anthropic shares held by debtors, the flexibility to sell Anthropic shares at different times allows borrowers to satisfy their needs.” He helps them do it.
The funds invested by Anthropic are part of FTX's new management efforts to recover and fully repay customers. FTX's legal representative, Andy Dietrich, said during a recent court hearing that FTX has the ability to pay its users and creditors in full, rejecting plans to restart the exchange.
FTX filed a similar request on February 1 to sell its $175 million claim against bankrupt digital financial services firm Genesis Global Capital.
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