The FTX estate, led by CEO John Ray III, has sold its remaining shares in Anthropic, the AI startup that created the chatbot Claude. 
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 <img decoding="async" width="804" height="790" src="https://www.cryptotimes.io/wp-content/uploads/2024/06/image.png" alt="FTX's bankruptcy document" class="wp-image-181350" srcset="https://www.cryptotimes.io/wp-content/uploads/2024/06/image.png 804w, https://www.cryptotimes.io/wp-content/uploads/2024/06/image-800x786.png 800w, https://www.cryptotimes.io/wp-content/uploads/2024/06/image-768x755.png 768w" sizes="(max-width: 804px) 100vw, 804px">
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 FTX’s bankruptcy document
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The company’s most recent bankruptcy documents state that FTX made approximately $450 million in revenue by selling the remaining 15 million shares at a price of roughly $30 per share.&nbsp; 
This increases the overall return on FTX’s initial $500 million investment in the business to roughly $1.3 billion, or a profit of about $800 million. The second sale’s price per share was the same <a href="https://www.cryptotimes.io/2024/03/26/ftx-estate-to-sell-anthropic-stake-for-884-million/" target="_blank" rel="noreferrer noopener">as the previous one from back in March.</a>&nbsp; 
G Squared, a worldwide venture capital fund, was the largest buyer in this round, paying $135 million for around 4.5 million shares, or almost one-third of the remaining shares. The other twenty buyers of the Anthropic shares were mostly venture capital funds.&nbsp; 
According to a tracker kept by creditor Mr. Purple, the cost of the FTX bankruptcy has <a href="https://x.com/MrPurple_DJ/status/1796737192636920202" target="_blank" rel="noreferrer noopener nofollow">exceeded</a> $700 million in legal and administrative fees as of the most recent filings from the bankruptcy estate.&nbsp; 
The law firm supervising FTX’s bankruptcy, Sullivan and Cromwell, is the subject of concerns expressed by FTX creditors regarding possible conflicts of interest. Before filing for bankruptcy, the company represented FTX, which sparked demands for an independent examiner and a class-action lawsuit. 
Since the beginning of the dispute, FTX CEO John Ray has billed the estate $5.6 million, based on his hourly fee of $1,300. The estate intends to pay back at least 118% of the permitted claims, as measured in dollars at the time the exchange filed for bankruptcy, to 98% of its creditors. 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 Also Read: <a href="https://www.cryptotimes.io/2024/05/29/ex-ftx-executive-ryan-salame-sentenced-7-5-years-in-jail/" target="_blank" rel="noreferrer noopener">Ex-FTX Executive Ryan Salame Sentenced 7.5 Years in Jail</a> 
</blockquote>

FTX Liquidates Anthropic Shares Amid Bankruptcy Costs Soar

The Crypto Times

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