Summary
FTX and its creditors have been approved by a federal bankruptcy court to sell the firm’s $1 billion stake in Anthropic. This move comes after FTX’s collapse in 2022 and follows attempts to recover funds to pay off debts. The sale was halted earlier this year but has now been given the green light.
Key Points
1. A federal bankruptcy court has approved the sale of FTX’s $1 billion stake in Claude AI developer Anthropic as part of a plan with creditors to pay off outstanding debts.
2. The sale of Anthropic shares was granted by U.S. Federal Judge John Dorsey, clearing the way for FTX to offload its investment through financial services company Perella Weinberg Partners.
3. FTX had previously sold assets, such as the derivatives trading platform Ledger X, to raise funds to pay off debts, and the value of its Anthropic shares has doubled to $1 billion since the launch of Claude 2 AI model.