Cryptocurrency

Jane

Refund

Million

The interim board of directors of the bankrupt cryptocurrency exchange FTX is preparing to sell two-thirds of its shares in the artificial intelligence company Anthropic. The $884 million sale is part of bankruptcy proceedings, according to recent court documents.
Management plans to sell 29.5 million shares to a group of 24 buyers. The most important among these is Abu Dhabi-based ATIC Third International Investment, which plans to purchase 16.6 million shares for $500 million.
Jane Street, a global trading firm, will purchase 3.3 million shares for $100 million. Funds managed by Fidelity, a multinational financial services company, are also participating in the sale and plan to spend $50 million for 1.5 million shares. The sales are awaiting court approval.
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FTX founder Sam Bankman-Fried worked as a trader on Jane Street for three years after graduating from MIT in 2014, leading FTX to acquire a stake in Anthropic three years ago. Originally valued at $500 million, the investment has since appreciated and an 8% stake in the high-profile AI startup is now worth more than $1 billion.
Proceeds from the sale of Anthropic shares will be used to refund customers who suffered losses following FTX's bankruptcy.
*This is not investment advice.
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Bankrupt Cryptocurrency Exchange FTX Takes $884 Million Step to Refund Creditor Customers

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