Alphabet

Jane

The insolvent <a href="https://optimisus.com/market/market-news/ftx-founder-bankman-fried-chooses-new-legal-team-despite-conflicting-worries-about-his-appeal/" rel="noopener noreferrer nofollow">crypto exchange FTX</a> plans to divest a substantial chunk of its stake in the artificial intelligence firm Anthropic for $884 million. This move aims to repay its creditors and enhance its financial well-being.  
The transaction will include investors such as ATIC Third International Investment Company LLC, Jane Street, Fidelity Management and Research, and HOF Capital.  
<a href="https://optimisus.com/market/market-news/ftx-exchange-wins-court-approval-to-sell-ai-startup-stake-plans-full-customer-payback/" rel="noopener noreferrer nofollow">FTX</a> made a $500 million investment in Anthropic in 2021, however Anthropic went bankrupt because of accusations of fraud.  
The startup has achieved substantial success in the field of artificial intelligence, securing investments from Amazon and Google's Alphabet Inc., which have elevated its valuation to $6 billion.  
The 8% stake that FTX still has in Anthropic is a valuable asset, especially considering that the estate's financial reserves were reported at $6.4 billion last month.  
US bankruptcy Judge John Dorsey granted approval for the transaction in February, despite early resistance from creditors. The agreement is contingent upon the provision that the funds from the sale would be allocated exclusively towards repaying the creditors.  
The ownership of Anthropic after the transaction is still undetermined. FTX's decision to sell off the majority of its Anthropic shares is a calculated move as part of its strategy to return from bankruptcy.  
Last week, the <a href="https://optimisus.com/news/crypto-news/doj-wants-40-50-years-prison-and-11b-fine-for-ftxs-sam-bankman-fried-for-fraud/" rel="noopener noreferrer nofollow">US Department of Justice (DOJ) has recommended</a> a jail sentence of 40-50 years for&nbsp;<a href="https://optimisus.com/market/market-news/the-us-sec-sues-sam-lee-and-brenda-chunga-for-1-7-billion-hyperfund-crypto-scam/" rel="noopener noreferrer nofollow">Sam Bankman-Fried</a>, the former director of FTX. 
The post <a href="https://optimisus.com/news/crypto-news/ftx-exchange-plans-884m-stake-sale-in-ai-startup-anthropic-to-repay-creditors/" rel="noopener noreferrer nofollow">FTX exchange plans $884M stake sale in AI startup Anthropic to repay creditors</a> appeared first on <a href="https://optimisus.com" rel="noopener noreferrer nofollow">Optimisus</a>.

FTX exchange plans $884M stake sale in AI startup Anthropic to repay creditors

Optimisus

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