FTX Suspends Plans to Sell Its $500 Million Stake in AI Company Anthropic | Tokenhell

According to a Bloomberg report released today, the now-fallen crypto exchange FTX has halted the sale of its shares in Anthropic, an AI company. However, the report did not state any reason leading to the decision. FTX currently holds Anthropic shares worth $500 million.

The trading platform filed for bankruptcy in mid-November 2022. A few weeks later, its then-CEO Sam Bankman-Fried saw several charges leveled against him by United States regulators. Those charges included wire fraud and money laundering.

FTX Leadership Levels More Accusations Against Former utives

In a document submitted to the court yesterday by the current FTX leadership, Bankman-Fried, along with other former utives, are accused of misappropriating over $400 million in user funds. In addition, the document states that the fallen exchange owed its users more than $8.5 million, with 6.3 billion of that figure being in the form of stablecoins and fiat currencies.

At the beginning of the year, the judge presiding over the FTX bankruptcy case allowed the company to cash in a portion of its asset in order to repay its creditors. One of the assets already sold includes LedgerX, a derivatives exchange traded for $51 million. Keep in mind that FTX bought LedgerX for $300 million in 2021.

In early June, Semafor revealed that FTX had contracted Perella Weinberg Partners, a financial service firm, to help sell its Anthropic shares to raise money to compensate creditors.

What’s Anthropic?

Anthropic is an AI startup founded by OpenAI ex-employees in 2021. The company launched its first major project, Claude AI, in February. Anthropic has already attracted several investors this year. In March, it received about $410 million in investment funds from Google. Two months later, venture capitalist Spark Capital led a Series C funding that saw over $450 million raised.

At the end of May, Anthropic announced it had added several elements to Claude AI, with one of them being a set of rules aimed at promoting ethical behavior.

Earlier this month, the team behind Anthropic joined companies interested in investing in AI technology at the White House, where they held a meeting with US Vice President Kamala Harris, promising to build AI s that don’t promote undesirable behavior.

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