As of June 1, FTX Exchange no longer holds any shares in the AI company Anthropic.

FTX Sells Anthropic Shares for $800M

The FTX Estate, led by John Ray III, has sold its remaining shares in Anthropic, according to the latest bankruptcy court filing.

Previously, FTX had 15 billion Anthropic shares, each valued at about $30, totaling $450 million. The shares in this sale were priced the same as those in the first sale back in March.

Initially, FTX, based in the Bahamas, invested $500 million in the AI company back in 2021. Through several selloffs, including the latest one, FTX has earned $1.3 billion from its investment, resulting in a profit of around $800 million.

The ongoing FTX bankruptcy case necessitated the sale of its Anthropic stake. Legal, administrative, and operational costs were mounting, and creditors were waiting for their promised repayments. Faced with these pressures, FTX sought and received approval from the bankruptcy court to sell its stake.

A Crucial Sale

FTX saw the sale of its Anthropic shares as the best way to ensure that all creditors are paid and no one is left disadvantaged.

Within weeks, the Supreme Bankruptcy Court of the United States District Court for the District of Delaware approved the sale. In its first sale, FTX sold $884 million worth of Anthropic shares to institutional investors like ATIC Third International Investment Company LLC and Jane Street.

In this latest sale, global venture capital fund G Squared was the main buyer, purchasing 4.5 million shares for $135 million. The remaining 20 buyers were mostly venture capital funds.

Meanwhile, the costs of the FTX bankruptcy, including legal and administrative fees, have exceeded $700 million. John Ray III plans to repay FTX customers soon.