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Once a significant player in the industry, FTX’s latest move in the crypto world has managed to draw attention. The bankrupt crypto exchange FTX’s approval from the Delaware bankruptcy court to sell its 7.84% stake in the artificial intelligence firm Anthropic has sparked debates. This move is said to be part of FTX’s strategy to repay its current debts.
Bankrupt Crypto Exchange FTX Gets Court Nod to Sell Shares
The bankrupt crypto exchange FTX’s attempt to sell its shares in Anthropic has gained significance as a result of the company’s leading figure Sam Bankman-Fried’s substantial investment in 2022. Since Anthropic is valued at approximately 18 billion dollars, the shares owned by the bankrupt crypto exchange are said to be worth 1.4 billion dollars.
On the other hand, there are concerns, especially within the crypto community, about whether this sale will fully cover FTX’s current customer debts and how this process will be managed fairly.
FTX customers’ claims that the Anthropic shares were actually purchased with funds collected from them could change the course of the debate. While customers argue that they should be reimbursed for these shares, how this sale will support FTX’s actual debt repayment plan remains a significant question.
What Does the Move Mean?
Despite the judge’s approval, the long-term consequences of this sale and its impact on FTX’s customer relations will be closely monitored in the coming days. The dynamics of both the crypto world and the artificial intelligence sector will be the determining factors in the impact of such developments.
The move by the bankrupt crypto exchange FTX can be considered an important step taken to reduce the company’s current debts and rebuild its reputation. However, uncertainties about how much of the debt will be paid off with this sale and the future of customer relations are factors that will determine the long-term success of this move.
Finally, during the hearing where the decision was made yesterday, FTX’s lawyer Andy Dietderich said, “We are selling the Anthropic shares just like everything else, and we are putting the money in the bank.” These statements are understood by customers to mean that the exchange will be making payments to them.
