FTX Selling $884 Million Anthropic Shares to Recover Customers Funds

In a court report dated March 22, the FTX revealed plans to sell a portion of Anthropic shares to refund the customers affected by the collapse of the crypto exchange. The report demonstrated that the FTX team will sell Anthropic shares worth $884 million.

The decision to sell the FTX Anthropic shares aimed at supporting the now-defunct crypto exchange to repaying the customers affected by the implosion of the platform. The unexpected liquidation of FTX created mixed feelings among the crypto enthusiasts.

FTX Sells Anthropic Shares to Repay Creditors and Customers

Following the crash of the Bahamian crypto exchange, the devastated customers explored new ways to maximize their profits.

Driven by the desire to generate a substantial return, the traders have shifted their focus to using the best-performing artificial intelligence (AI) bots, such as the AI Definity 1000 Platform. Compared to other trading approaches, AI bots leverage the power of algorithms to analyze big data and spot market opportunities as they arise.

In February, the FTX team filed a motion at the bankruptcy court in Delaware seeking to sell its Anthropic shares worth millions. The request was later approved by Judge John Dorsey of the federal court.

The report indicates that the FTX team has been seeking to sell the Anthropic shares to recover the customer’s funds for months.

Investors Shown Interest in Acquiring Anthropic Shares

In the court report, the troubled crypto exchange will seal the sale deal with consortium buyers. Under the sales deals, the ATIC Third International Company will hold many Anthropic shares. Other buyers seeking to secure FTX’s Anthropic shares include Jane Street Global, Picton Mahoney, Fidelity Management and Research, HOF Capital, and Ford Foundation.

In the report, the top bidder, ATIC firm, will acquire 16 million Anthropic shares valued at $500 million. Consequently, Jane Street will purchase assets worth $100 million. News concerning the sale of Anthropic shares attracted the interest of diverse customers.

According to the report, around 20 companies and investors have shown interest in investing in FTX’s Anthropic shares. Initially, the former chief executive of FTX, Sam Bankman Fried, advised the exchange to invest in Anthropic shares.

In 2021, the FTX team acquired the Anthropic shares worth $500 million. The acquisition of these shares marked a significant milestone for the crypto exchange to support the development of emerging technologies such as AI.

Besides the crashing down of FTX, the Anthropic share value has been on the rise due to the increased adoption of AI technology.

Review of FTX Repayment Plan

Even though the FTX team failed to attain the end goals, the new management has been keen to assess what went wrong during the tenure of Bankman Fried. Led by the new chief executive, John Ray, the FTX team has strived to recover the lost assets and refund customers’ funds.

In a recent report, the CEO confirmed that the FTX team had recovered assets worth $7 billion. The executive stated that the value of the recovered assets and investment has steadily increased.

In February, the FXT bankruptcy lawyers confirmed that the crypto exchange plans to repay the customers using legitimate claims. A statement from the bankruptcy attorney Andrew Dietderich confessed that the FTX repayment plans require a lot of work.

He added that ensuring that all the FTX customers receive their funds will require the firm to develop practical strategies.