FTX’s creditors may see a glimmer of hope following the recent partnership between Anthropic and Amazon, as the tech giant unveiled plans to invest $4 billion in the emerging artificial intelligence (AI) startup.
Anthropic, an OpenAI competitor, gained significant attention when it secured a hefty $580 million in Series B funding in April 2022. Led by FTX’s leader, Sam Bankman-Fried, the fundraising effort also saw notable contributions from Caroline Ellison, Jim McClave, Nishad Singh, Jaan Tallinn, and the Center for Emerging Risk Research (CERR).
Amid FTX’s financial struggles, its stake in Anthropic has become prominent. Furthermore, following Anthropic’s remarkable $4 billion investment from Amazon and an additional $300 million from Google in February, the new valuation of the Anthropic deal has not been disclosed yet. However, the company proudly boasted a value of nearly $5 billion in May 2023. Interestingly, discussions are circulating about Anthropic potentially raising an additional $2 billion in new capital.
The startup is targeting a valuation ranging from $20 billion to $30 billion with this new funding. As Anthropic’s valuation continues to rise, a group of FTX creditors has used social media platforms to share their insights. “Anthropic will raise capital from Google at a valuation of $20-30 billion, putting FTX’s stake at $3-4.5 billion. FTX clients are now made whole,” wrote FTX 2.0 Alliance on the social media platform.
FTX’s real estate may also acknowledge the substantial value of their Anthropic shares, as at the end of June, creditors suspended the sale of FTX’s Anthropic stocks. FTX’s bankruptcy story unfolds with numerous unresolved aspects before it proceeds with its strategies. In addition to their Anthropic holdings, FTX creditors have demanded billions in cryptocurrency assets and tens of millions in real estate assets.
Currently, debt recovery firms are keen on exploiting FTX’s compensation claims after the acquisition, which is believed to have gathered $250 million in compensation claims so far. Data from Claims-market.com reveals that the highest settlement for an FTX preference risk claim is currently trading at $0.37, while no preference risk FTX claims are priced at $0.41.