FTX liquidated an 8% stake in Anthropic for $1.3 billion during its bankruptcy proceedings in 2024, a transaction that would be valued at more than $30 billion at current market valuations of the artificial intelligence company.
The cryptocurrency exchange, which collapsed in November 2022 amid allegations of misuse of customer funds, held a significant position in Anthropic, the AI firm founded by former OpenAI executives. As part of its bankruptcy restructuring, FTX was forced to divest the stake to raise liquidity for creditors and fund operational expenses during the court-supervised process.
The dramatic appreciation of Anthropic's valuation—a jump of more than 2,200% in roughly a year—underscores both the explosive growth of the generative AI sector and the suboptimal timing of FTX's asset sales during its financial distress. The transaction illustrates how distressed liquidations in volatile emerging sectors can result in substantial opportunity costs for creditors.