The FTX Anthropic stake has been in the limelight once again after reports of Anthropic planning to issue 825 million Class A shares, which will be priced somewhere between $70 and $78 per share.
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This deal may value the artificial intelligence company anywhere from $1.2 trillion to $1.4 trillion. The combined FTX and its subsidiaries made an investment of about $500 million in Anthropic from 2021 to 2022, which gave them an initial ownership stake of roughly 8%.
But the bankrupt crypto exchange has sold off all its investments in 2024 to raise money to pay back creditors. Going by the current valuation estimates, the investment held by FTX would be worth over $30 billion now.
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How FTX Sold Its Anthropic Stake During Bankruptcy
FTX put in about $500 million in Anthropic between 2021 and 2022, thus securing an early stake in the emerging artificial intelligence corporation.
Nevertheless, FTX’s bankruptcy resulting from its collapse in November 2022 left the exchange without any other choice but to sell off its property to settle its debts.
The bankruptcy estate of FTX sold its Anthropic stock in stages at around $30 a share in 2024, thus getting back about $1.34 billion.
FTX Anthropic Stake Highlights Missed Opportunity
Anthropic will issue 825 million Class A shares priced at $70 to $78 per share, thus giving a valuation of the company ranging from $1.2 trillion to $1.4 trillion.
Based on the valuation above, the value of FTX’s former stake could range from $31.2 billion to $34.7 billion, in contrast to the $1.34 billion recovered from the sale of the stake in 2024.
FTX Anthropic Stake presents a big missed investment opportunity for FTX. Nonetheless, the above figures are hypothetical, based on the ownership percentage after dilution and the risks associated with private stock ownership.
FTX Creditor Repayments Continue After the Anthropic Sale
The bankruptcy restructuring of FTX gives background for the FTX Anthropic Stake sale. On July 17, 2026, the company announced its fifth distribution to creditors totaling around $900 million.
After the distribution, dotcom and US consumer claims were paid 105% cumulatively, and the general unsecured claims were paid at 103%.
This explains why FTX decided to generate immediate cash rather than make an investment in the company’s future. The sale of Anthropic stock enabled the bankruptcy estate to raise cash and pay creditors without having to wait for the company’s growth.
FTX’s Early Sale Raises Questions
The FTX Anthropic stake provides an example of the hard choices that arise when dealing with a bankruptcy of such scale. The bankruptcy estate was able to recover roughly $1.34 billion from a venture whose cost amounted to roughly $500 million initially.
However, the growth in Anthropic has altered the perception of the previous sale. Had FTX retained its stake, then the venture would have brought billions more in revenue.
In this case, the deal was an opportunity for creditors to get early recovery proceeds instead of relying on payments from a private corporation in the future. The above deal is an illustration of the dilemma of liquidity versus value creation in relation to bankruptcy asset sale.
This case clearly illustrates some of the problems that come with dealing with a private investment during bankruptcy processes. Despite the fact that the sales of Anthropic stock have been beneficial in the process of making payments for FTX, the increasing valuation has created the greatest missed opportunity for investment.
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Bena Ilyas is a Global News Correspondent and Market Analyst at Tronweekly with over four years of experience covering global cryptocurrency, blockchain, and Web3 developments. She has written 1,000+ articles for leading crypto news platforms, reporting on Bitcoin, Ethereum, altcoins, DeFi, and global crypto regulation, alongside Web3 trends, Layer 2 ecosystems, and AI-driven crypto use cases. Her work is based on verified sources and fact-based reporting for global market participants.
