FTX to sell two-thirds of Anthropic stake for $884 million, with buyers including Jane Street and funds managed by Fidelity
Summary
The estate of bankrupt crypto exchange FTX is selling two-thirds of its stake in AI company Anthropic for $884 million, according to court documents.The estate plans to sell 29.5 million shares to 24 buyers. The sales are subject to court approval.After graduating from MIT in 2014, FTXs founder, Sam Bankman-Fried, worked as a trader at Jane Street for three years.Three years ago, FTX bought shares in Anthropic for $500 million. FTX is selling the Anthropic shares as part of its bankruptcy proceedings, and funds from the sale will be used to help reimburse clients who lost money after the cryptocurrency exchange went bankrupt.FTX ruled out selling to investors from Saudi Arabia, according to a report from CNBC, which cited anonymous sources.Disclaimer: The Block is an independent media outlet that delivers news, research, and data. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.