Summary
FTX approved to sell stake in Anthropic, bringing them closer to repaying creditors. Former CEO Sam Bankman-Fried awaits sentencing for financial crimes. Sale of Anthropic stake and other assets could help repay customers. Bankman-Fried facing possible 110-year prison sentence.
Key Points
1. FTX has received approval to sell its 7.84% stake in OpenAI competitor Anthropic, bringing the bankruptcy estate closer to repaying customers as former CEO Sam Bankman-Fried awaits sentencing.
2. The sale of the $500 million stake in Anthropic would recover roughly $1 billion for the FTX bankruptcy estate, increasing the chances of repaying creditors fully.
3. Former FTX CEO Sam Bankman-Fried is awaiting a sentencing trial in March after being convicted of financial crimes, with a maximum prison time of 110 years.