FTX Estate Sells Off Remaining Anthropic Holdings Amid Bankruptcy Proceedings
The FTX estate, led by CEO John Ray III, has divested its remaining shares in Anthropic, the AI startup known for its chatbot Claude, as revealed in the firm’s recent bankruptcy filings.
According to the filings, FTX sold the remaining 15 million shares for approximately $30 each, resulting in proceeds exceeding $450 million.
The sale brings the total earnings from FTX’s initial $500 million investment in Anthropic to around $1.3 billion, resulting in a profit of roughly $800 million.
Notably, the price per share for this second sale matched that of the first sale conducted in March.
Leading the buyers in this round was global venture capital fund G Squared, which acquired approximately one-third of the remaining shares, equivalent to 4.5 million shares, for $135 million.
Other venture capital funds constituted the majority of the remaining 20 buyers involved in the acquisition of Anthropic shares.
In parallel to these developments, the cost of the FTX bankruptcy has surged past $500 million in legal and administrative fees, as reported by The Block.
FTX creditors have expressed concerns regarding a potential conflict of interest, as the primary law firm managing FTX’s bankruptcy, Sullivan and Cromwell, had previously represented FTX.
The situation has prompted the appointment of an independent examiner and triggered a class-action lawsuit.
The New York Times’ analysis from last year revealed that law firms have charged hundreds of millions of dollars in fees for crypto company bankruptcies.
FTX CEO John Ray has submitted a bill of $5.6 million to the estate, reflecting his hourly rate of $1,300 since the initiation of the case.
The estate intends to repay at least 118% of allowed claims, measured in dollar value at the time of
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