FTX FTT/USD has suddenly put a stop to the sale of a coveted asset, which was previously believed to be on the auction block after the crypto exchange declared bankruptcy in November.
What Happened: Perella Weinberg Partners, the investment bank advising the FTX sale process, informed bidders that FTX's stake in artificial intelligence (AI) start-up Anthropic is not up for grabs.
Several prospective buyers had spent months evaluating confidential data concerning FTX's stake in Anthropic, Bloomberg reported.
Also Read: Prime Trust's Financial Woes A Mere Ripple In The Crypto Ocean, Experts Say
FTX was expected to fetch a nine-figure sum for the stake in Anthropic, which was established in 2021 by ex-employees of OpenAI, the firm behind ChatGPT.
In May, Anthropic announced that it had amassed $450 million to bolster the development of its AI bot named Claude.
FTX, co-founded by Sam Bankman-Fried, invested $500 million in Anthropic, the report stated, quoting an internal document that was circulated before the bankruptcy filing in November.
FTX’s stake in Anthropic is considered one of the largest investments by the crypto exchange, surpassed only by its $1.5 billion investment in the cryptocurrency mining entity Genesis Digital.
Meanwhile, the new management at FTX released a report this week that sheds light on the alleged misappropriation of customer assets by the exchange. Certain transactions, including political contributions and venture capital investments, were partially funded through mingled customer deposits.
Read Next: No Escape For FTX's Bankman-Fried As Judge Rejects Plea To Dismiss Charges
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