FTX to sell $884M of Anthropic shares: Court filing

Jane Street, a Mubadala-linked fund and Fidelity-linked funds are some of the top buyers, according to court documents

March 25, 2024 01:08 pm

Kiran Jyothi VP/Shutterstock modified by Blockworks

The FTX estate filed to sell most of its stake in Anthropic for $884 million, according to court documents.

The documents show that the largest purchaser of shares will be ATIC Third International Investment Company, buying up 16 million shares for nearly $500 million. ATIC is associated with Mubadala, which is tied to the Abu Dhabi government.

Jane Street would buy nearly $100 million worth of shares. “Certain funds managed by Fidelity Management & Research Company LLC” will buy nearly 1.5 million shares for over $44 million.

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FTX’s Anthropic stake sits around 8%. Under the helm of previous CEO Sam Bankman-Fried, FTX purchased the stake for $500 million in 2021.

Objections to the sales have to be filed by April 1, the documents — filed on March 22 — show.

The AI company has since boomed, increasing the value of FTX’s stake to over $1 billion based on a 2023 valuation.

In earlier court filings, FTX debtors said that they planned to sell “all or portions of Anthropic Shares at different times, and by different means,” to “help the Debtors monetize their interest.” The sales, they added, would happen at “optimal” times.

Earlier this year, the bankruptcy judge overseeing the estate’s case gave FTX the go-ahead to unload the company’s stake.

According to a previous update from the debtors, FTX believes it can repay its customers in full, partially due to the sale of its shares in Anthropic.

The FTX estate, earlier this year, also added that it has no plans to reboot the exchange after bidders fell through.

The former crypto exchange also unloaded its GBTC — Grayscale’s bitcoin ETF — holdings, worth nearly $1 billion according to multiple media reports in January.

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