FTX seeks permission to quickly sell 8% stake in Anthropic

Odaily Odaily Bankrupt cryptocurrency exchange FTX is preparing to sell its most important remaining illiquid assets: the company’s 8% stake in AI startup Anthropic, which in October 2021 hired FTX’s former CEO $500 million investment from Sam Bankman-Fried. Now FTX has filed a motion asking a judge to approve the sale of FTX’s stake in Anthropic. The company also filed another motion to shorten the review period for the sale motion so that it can be considered at the next bankruptcy court hearing on February 22. Objections to the motion must be filed by February 15. The filing disclosed the exact percentage of FTX’s stake in Anthropic, which stood at 7.84%, and outlined two main procedures for selling the stake: auction or private sale. FTX's attorneys withheld the price they were seeking for the Anthropic shares, reasoning: "Disclosing the reference price could adversely affect the Debtors' objective of obtaining a higher and better offer for the Anthropic shares."