FTX Granted Permission to Sell Shares in Anthropic by U.S. Federal Judge
Bankrupt cryptocurrency exchange FTX has been given approval to sell its shares in the AI firm Anthropic, following a court order by U.S. Federal Judge John Dorsey on Thursday. FTX had initially invested $500 million in Anthropic in 2021, holding a 7.84% stake in the company, as revealed in court documents. The decision to allow the sale came after FTX reached a settlement in court with a group of customers opposing the sale.
Founders and Funding of Anthropic
Anthropic, founded by Daniela and Dario Amodei, has garnered significant attention in the field of artificial intelligence startups. The founders previously worked at OpenAI and are reportedly considering an IPO. The company has raised $1.6 billion in funding as of August 2023 and recently introduced “Claude 2,” a generative text platform trained using data from the internet and human feedback.
- The company has also launched “Claude Instant,” a faster and more cost-effective model for businesses, featuring constitutional AI designed to mitigate brand risk.
- In December, Anthropic was in talks to raise $750 million in a funding round led by Menlo Ventures, which would value the company at $18.4 billion, nearly 4.5 times its previous valuation.
FTX’s Bankruptcy and Financial Situations
The bankruptcy of FTX has been marked by a legal battle with multiple creditors seeking to recover over $8 billion. The case, filed in November, involves complex and time-consuming disputes over the remaining assets, as highlighted by Alan R. Rosenberg, a partner at Markowitz Ringel Trusty & Hartog. Despite the challenges, FTX has expressed its commitment to repay all creditors and has been actively looking to divest some of its subsidiaries to aid the bankruptcy process.
Ian is a cryptocurrency enthusiast blending humor with professionalism. With an engineering background and a storyteller's heart, he simplifies the blockchain world with sharp analysis and a touch of wit. At Cryptowire, he brings his unique perspective to make digital financial innovation accessible to all.
