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FTX has filed a motion to allow the sale of its nearly 8% stake in artificial intelligence company Anthropic

FTX has filed a motion to allow the sale of its nearly 8% stake in artificial intelligence company Anthropic

CointimeCointime2024/02/04 00:12
By:Cointime

FTX is preparing to sell its most important remaining non-current assets: an 8% stake in the valuable artificial intelligence startup Anthropic, which the company acquired a $500 million investment from FTX's former CEO Sam Bankman-Fried in October 2021.

The company, currently led by CEO John Ray III, has submitted a motion requesting that a judge approve the sale of FTX's stake in Anthropic. The company has also submitted a separate motion to shorten the deliberation period for the sale motion so that it can be heard at the next bankruptcy court hearing on February 22. The deadline for opposition to the motion is February 15.

The document discloses the specific size of FTX's stake in Anthropic, which is 7.84%, and lists the two main procedures for selling the stake: auction or private sale. FTX's lawyers have modified the price they are seeking for Anthropic stock, believing that "publicly disclosing a reference price may not be in the debtor's best interests in obtaining higher and better offers for Anthropic stock."

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