As cryptocurrency exchange FTX faced a collapse, it was revealed that the company possessed approximately $500 million worth of Anthropic stock.
Amidst its rapid ascent as a frontrunner in the generative AI domain, Anthropic has garnered attention for integrating its groundbreaking LLM technology into popular platforms such as Notion, Quora, and DuckDuckGo.
Recently, Anthropic secured an impressive $450 million in funding from prominent investors like Google and Spark Capital, leading to a valuation estimated to be around $5 billion, according to Reuters sources.
Anthropic’s Rise in the Generative AI Space and Recent Funding Success
However, a shadow loomed over this success story. As cryptocurrency exchange FTX faced a collapse, it was revealed that the company possessed approximately $500 million worth of Anthropic stock.
Interestingly, SBF’s strategic investment in Anthropic may serve as a means to recover funds for former FTX customers affected by the exchange’s downfall. However, experts speculate that this stake could potentially be worth hundreds of millions of dollars.
Moreover, Perella Weinberg Partners, acting as an advisor during FTX’s bankruptcy, had plans to liquidate these shares. But, as of now, those plans are on hold.
FTX’s Stake and the Surprising Halt in its Sale
In a surprising twist, FTX has halted the sale of its stake in Anthropic, as reported by Paula Sambo, Jeremy Hill, and Yueqi Yang at Bloomberg.
This development follows FTX’s new CEO, John J Ray III, accusing the former management of misappropriation and commingling of assets. Further, some suggest that SBF and FTX funded certain political donations and venture capital investments using commingled customer deposits.
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