Bankruptcy Papers FTX Liquidates Anthropic Holdings Exceeding 500 Million HKD in Restructuring Expenses

FTX Liquidates Anthropic Holdings
Bankruptcy Costs Continue to Rise
The Block cites the contents of FTX’s latest bankruptcy filing
report
that the bankrupt exchange FTX has once again sold its remaining stake in the AI startup company Anthropic (which developed the chatbot Claude).
The documents show that the exchange sold the remaining 15 million shares at a price of approximately $30 per share, generating over $4.5 billion in revenue. It is reported that the sale price is the same as the first sale in March, resulting in realized gains of about $1.3 billion for FTX from the initial $500 million investment in the company, with a total net profit of approximately $800 million.
In this round, global venture capital fund G Squared is one of the main buyers, spending $135 million to purchase about one-third of the remaining shares, which is 4.5 million shares. The remaining 20 or so buyers are also mostly venture capital funds.
According to the latest documents from the bankruptcy restructuring, FTX’s legal and administrative costs for bankruptcy have exceeded $500 million. In response, FTX’s creditors complained that the main law firm responsible for FTX’s bankruptcy, Sullivan and Cromwell, is also the law firm that represented the company before the bankruptcy, which may pose a conflict of interest. This issue has sparked controversy over the appointment of an independent examiner and class action lawsuits. Interim CEO of FTX, John Ray, earns $1,300 per hour, and by this calculation, John Ray has earned $5.6 million since the case began.