Struggling cryptocurrency exchange FTX has signaled its intent to divest its entire stake in the artificial intelligence company Anthropic. The proposed sale, outlined in court filings dated February 3, aims to unlock approximately $1.4 billion in capital.

According to documents submitted to the United States Bankruptcy Court for the District of Delaware, FTX seeks to liquidate all its holdings of Anthropic Series B preferred stock, along with any associated rights. These holdings are partially owned by FTX's affiliate, Alameda Research.

Former FTX CEO Sam Bankman-Fried invested $530 million in the Anthropic venture in April 2022, just seven months before the financial downturn. These funds originated directly from deposits made by FTX customers, a fact that became public during Bankman-Fried's legal disputes and court proceedings in October 2023.

At the close of the Series B funding round in April 2022, Alameda held approximately 13.56% of Anthropic. However, as Anthropic proceeded with subsequent funding rounds, Alameda's ownership stake gradually decreased to its current level of 7.84%. By December 2023, Anthropic's valuation had soared to an impressive $18 billion, implying the value of Alameda's stake at around $1.4 billion.

FTX is seeking expedited review of the sale process, aiming for a decision during the court's upcoming session on February 22. FTX's legal representative, Andy Dietderich, stressed the urgency of the matter during a recent court appearance, indicating that FTX is positioned to fully compensate its users and investors and dismissing any notions of resurrecting the struggling exchange.

This move follows a similar motion by FTX on February 1, seeking to liquidate its $175 million claim against the now solvent financial services firm Genesis Global Capital.