2024

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 <p class="is-style-lead">In its ongoing attempts to reimburse creditors, bankrupt crypto exchange FTX <a rel="noopener noreferrer nofollow" title="seeks" href="https://thebittimes.com/tag/seeks.html">seeks</a> a judicial green light to offload its roughly 8% <a rel="noopener noreferrer nofollow" title="stake" href="https://thebittimes.com/tag/stake.html">stake</a> in AI firm Anthropic.</p>
 <p>On Feb. 3, FTX filed a motion in the U.S. Bankruptcy Court for the District of Delaware, asking the court to approve the sale of the failed exchange’s 8% equity stake in Anthropic.</p>
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    <p lang="en" dir="ltr">Looks like FTX is looking to sell their Anthropic equity and should get around $1.5B for it.<br><br>If there was any questions on creditor being made whole (at petition date prices) before, this should clear all doubts. pic.twitter.com/dyyohrSOkZ</p>— G3 (@g3_capital) February 3, 2024
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 <p>Underscoring the urgency of the matter, the company also filed a second motion seeking to <a rel="noopener noreferrer nofollow" title="expedite" href="https://thebittimes.com/tag/expedite.html">expedite</a> the deliberation period for the first motion with the hope that it can get a hearing by Feb. 22.</p>
 <p>Anthropic is a Delaware public benefit corporation working on large language models similar to GPT-3. Its $18 billion valuation in December 2023 means that FTX’s 8% <a rel="noopener noreferrer nofollow" title="stake" href="https://thebittimes.com/tag/stake.html">stake</a> could be worth upwards of $1.4 billion in the current market.</p>
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 <p>The AI company received a hefty $500 million investment from FTX while the exchange was still under the leadership of its founder, Sam Bankman-Fried. The disgraced former CEO is currently awaiting sentencing after being found guilty in November 2023 of several criminal charges, including wire fraud and money laundering.</p>
 <p>The proposed sale is not seen as just a regular asset liquidation but as a nuanced, court-sanctioned transaction aiming to maximize the value returned to FTX’s stakeholders. If given the go-ahead, it would mark a pivotal step — implementing sale procedures advocating for a transparent, competitive bidding environment.</p>
 <p>FTX is considering various avenues for sale, including auctions or private negotiations, while keeping precise asking prices under wraps. This orchestrated approach <a rel="noopener noreferrer nofollow" title="seeks" href="https://thebittimes.com/tag/seeks.html">seeks</a> to ensure a fair and opportunistic process and preserve the company’s shareholder value in the volatile AI market.</p>
 <p>Observers have noted the influence of timing, as AI technology remains a hotbed for investment, with the sector witnessing burgeoning interest and value appreciation. The company has marked Feb. 15 as the cutoff date for any objections to its request.</p>
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  </svg> <span class="cn-block-related-link__prefix"> Read more: </span> Larry David admits losing ‘a lot’ in crypto, calls himself ‘idiot’ after FTX collapse
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/ftx-seeks-expedited-court-approval-to-sell-1-4b-anthropic-stake-tbt78785.html">https://thebittimes.com/ftx-seeks-expedited-court-approval-to-sell-1-4b-anthropic-stake-tbt78785.html</a></p>

FTX seeks expedited court approval to sell $1.4b Anthropic stake

TheBitTimes

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