As a major step in the debt repayment process, bankrupt cryptocurrency exchange FTX plans to sell its 8% stake in Anthropic’s AI startup, seeking a court approval for this deal. This non-liquid asset which in 2022 was a $500 million investment by the former CEO Sam Bankman-Fried, may now be worth over $1.4 billion Net Present Value as calculated in Anthropic.

The motive of the filing a motion of ftx was to have an expedited approval by February 22nd proposing for an auction or a private sale of the stake. Though there is no exact asking price as it is redacted, it is predicted to fall about Anthropic’s $ 18 billion valuation.

The promise of this sale is huge to the investors of FTX. It not only had the capacity to spare sufficient amounts of money to meet all claims in full but it also brought to light the potential viability of FTX’s assets. However, uncertainties remain. The sale needs to be backed by a court, certain objections have to be dealt with and the corresponding amount is still being concealed.

Read the full court filing here