FTX Pauses Sale of $500 Million Stake in AI Startup Anthropic – Bitcoin News

Bitcoin.com
Bitcoin.com

30 Jun 2023 4:30 AM

Failed crypto exchange FTX has unexpectedly halted the sale of its stake in the artificial intelligence (AI) startup Anthropic....

  • Failed crypto exchange FTX has halted the sale of its stake in AI startup Anthropic, which was viewed as a source of funds to compensate customers who suffered losses.
  • The stock, worth $500 million, was among FTX's most sought-after assets.
  • Bidders have been informed of the pause by Perella Weinberg Partners, the financial services firm advising FTX in its bankruptcy.
  • Anthropic, founded in 2021 by former employees of Openai, raised $450 million to support the development of its AI bot named 'Claude'.
  • FTX's stake in Anthropic is one of its biggest investments.
  • FTX filed for bankruptcy protection in November 2022, and the sale of the Anthropic stake was halted after the new CEO accused the former management of misappropriating assets.
  • Some of FTX's political donations and venture capital investments were funded by customer deposits.
  • FTX and its founder, Sam Bankman-Fried, made a $500 million investment in Anthropic through their crypto trading firm Alameda Research.
  • The duration of the delay in selling the stake in Anthropic is currently unknown.

The sentiment of the article is negative, as it discusses the failure of FTX, the halt in selling the stake in Anthropic, and allegations of misappropriation of assets.

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You May Ask

Why did FTX halt the sale of its stake in Anthropic?How much is FTX's stake in Anthropic worth?When was Anthropic established and what is its main product?What were the allegations made by FTX's new CEO against the former management?How were FTX's political donations and venture capital investments funded?

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