The $1 billion or so in proceeds from the sale of the shares will be used to pay back investors.
- There is a queue of buyers for FTX’s 8% ownership in the AI startup Anthropic, according to a recent CNBC report.
- The shares were bought for $500 million in 2021, but at the current valuation, they are valued at $1 billion.
Stay in the know on crypto by frequently visiting Crypto News Today
According to a new CNBC story citing unidentified sources, FTX’s portion of the artificial intelligence company Anthropic is for sale, and international investors, including sovereign wealth funds, are lining up to buy the shares.
The report states that the sale is anticipated to conclude in the coming weeks, and the money raised will be utilized to reimburse FTX investors.
CryptoCaster Quick Check:
Attorneys for FTX stated in January that the now-defunct exchange hopes to reimburse consumers for 100% of the value of their holdings at the time of the bankruptcy. Disgraced founder and former CEO Sam Bankman-Fried has tried to take advantage of this fact to support his request for a sentence that is far less than the 40–50 years that federal prosecutors have recommended.
For $500 million in 2021, FTX and Alameda jointly bought an 8% share in Open-AI rival Anthropic. According to reports, the current market value of those shares is $1 billion. There are no voting rights attached to the class B shares.
In February, a New York bankruptcy court granted the FTX estate permission to sell the shares. Following months of stalled due diligence, an earlier attempt to sell the shares in June 2023 ultimately failed.
CNBC’s report indicates that Anthropic is excluding any investments from Saudi Arabia due to national security worries, yet remains open to funding from other sovereign wealth funds, such as the United Arab Emirates’ Mubadala.
We hope you appreciated this article. Before you move on, I was hoping you would consider taking the step of supporting CryptoCaster’s journalism.
From Elon Musk, Larry Fink(BlackRock) to Jamie Dimon(JP Morgan Chase) a number of billionaire owners have a powerful hold on so much of the hidden agendas’ which eludes the public concerning the paradigm shift juxtaposed by cryptocurrency and web3 emerging technologies. CryptoCaster is different. We have no billionaire owner or shareholders to consider. Our journalistic efforts are produced to serve the public interest in crypto development and institutional disruptions – not profit motives.
And we avoid the trap that befalls much U.S. and global media – the tendency, born of a desire to please all sides, to engage in false equivalence in the name of neutrality and retail consumer protection. While fairness and transparency dictates everything we do, we know there is a right and a wrong position in the fight against fiat global banking interest and monetary reconstruction precipitated by the emerging crypto ecology.
When we report on issues like the FTX, Binance and Ripple crisis, we’re not afraid to name who or what is uncovered. And as a crypto sentinel, we’re able to provide a fresh, outsider perspective on the global monetary disruption – one so often missing from the insular American and European media bubble.
Around the world, readers can access the CryptoCaster’s paywall-free journalism because of our unique reader-supported model. That’s because of people like you. Our readers keep us independent, beholden to no outside influence and accessible to everyone – whether they can afford to pay for news and information, or not.
We thankyou for the on-going support our readers have bestowed monetarily. If you have not considered supporting CryptoCaster, if you can, please consider supporting us just once from $1 or more of Bitcoin (satoshi) or Eth, and better yet, support us every month with a little more. Scroll further down this page to obtain CryptoCaster’s wallet addresses.
Thank you.
Kristin Steinbeck
Editor, CryptoCaster
Please Read Essential Disclaimer Information Here.
© 2024 Crypto Caster provides information. CryptoCaster.world does not provide investment advice. Do your research before taking a market position on the purchase of cryptocurrency and other asset classes. Past performance of any asset is not indicative of future results. All rights reserved.
Contribute to CryptoCaster℠ Via Metamask or favorite wallet. Send Coin/Token to Addresses Provided Below.
Thank you!
BTC – bc1qgdnd752esyl4jv6nhz3ypuzwa6wav9wuzaeg9g
ETH – 0x7D8D76E60bFF59c5295Aa1b39D651f6735D6413D
MATIC – 0x7D8D76E60bFF59c5295Aa1b39D651f6735D6413D
LITECOIN – ltc1qxsgp5fykl0007hnwgl93zr9vngwd2jxwlddvqt
CRYPTOCASTER HEATMAP
