Bankruptcy Filing: FTX Liquidates Anthropic Holdings, Bankruptcy Restructuring Expenses Surpass 500 Million RMB

Bankruptcy Filing: FTX Liquidates Anthropic Holdings, Bankruptcy Restructuring Expenses Surpass 500 Million RMB

Bankruptcy Filing: FTX Liquidates Anthropic Holdings, Bankruptcy Restructuring Expenses Surpass 500 Million RMB

FTX Liquidates Anthropic Stake
Bankruptcy Costs Continue to Rise

The Block has cited the latest bankruptcy filing documents from FTX, stating that the bankrupt exchange has once again sold its remaining stake in AI startup Anthropic (the company behind the development of chatbot Claude).

The documents reveal that the exchange sold the remaining 15 million shares at approximately $30 per share, generating over $450 million in revenue. It is reported that this sale price is the same as the price of the first sale in March, resulting in a realized return of about $1.3 billion for FTX from its initial $500 million investment in the company, with a total net profit of approximately $800 million.

In this round, global venture capital fund G Squared was one of the main buyers, investing $135 million to purchase about one-third of the remaining shares, equivalent to 4.5 million shares. The remaining over 20 buyers are also mostly venture capital funds.

According to the latest documents on the bankruptcy reorganization, FTX’s legal and administrative costs for bankruptcy have exceeded $500 million. In response, FTX’s creditors have complained that the law firm Sullivan and Cromwell, which is responsible for FTX’s bankruptcy, is also the firm that represented the company before its bankruptcy, raising concerns about potential conflicts of interest. This issue has sparked controversy, leading to the appointment of an independent examiner and collective lawsuits. Interim CEO of FTX, John Ray, has an hourly rate of $1,300, and based on this rate, he has earned $5.6 million since the start of the case.