FTX Freezes Sale of $500 Million Stake in AI Startup Anthropic


28 Jun 2023 8:19 AM

Embattled crypto exchange FTX has frozen the sale of one of its most desirable assets, a stake in artificial intelligence (AI) startup Anthropic....

  • FTX has frozen the sale of its stake in AI startup Anthropic.
  • The investment bank acting as an adviser to FTX informed bidders about the sale suspension.
  • Potential buyers have requested private information about the Anthropic stake.
  • Perella Weinberg Partners asked potential bidders to sign non-disclosure agreements.
  • FTX was seeking "nine figures" for a share of Anthropic.
  • Anthropic was valued at $4.6 billion in June following a $450 million funding round.
  • FTX and Alameda made a $500 million investment in Anthropic.
  • FTX has a $1.7 billion shortfall in its balance sheet.
  • The sale of Anthropic would have provided capital for FTX's recovery and recompense for creditors.
  • FTX debtors released their second investigative report, stating that FTX owed customers approximately $8.7 billion.
  • FTX claims to have made progress in recovering around $7 billion in liquid assets.
  • Crypto markets have remained sideways, with Bitcoin at $30,456.

The article highlights the challenges faced by FTX, including the freeze of the sale of its stake in Anthropic and its significant shortfall in the balance sheet. However, it also mentions FTX's efforts to recover assets and its investment in Anthropic, indicating some potential for improvement.

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