alt Hacker NewsFTX's former Anthropic stake would be worth about $75B at today's valuation
FTX held a diluted 7.84% stake in Anthropic, according to Reuters.
Anthropic’s latest reported valuation is around $965B.
That implies the former FTX stake would be worth about $75B before further dilution.
FTX’s customer shortfall was roughly $8B to $9B.
The estate sold the Anthropic stake during bankruptcy to repay creditors.
Sources: https://www.reuters.com/technology/crypto-exchange-ftx-sell-shares-ai-startup-anthropic-2024-02-22/ https://www.reuters.com/technology/openai-files-us-ipo-after-anthropic-ai-giants-head-public-markets-2026-06-08/
Comments
From the SBF trial:
> Jury leave, witness [Ellison] leaves.
> Judge: We can talk about [Anthopic] What about it?
> AUSA: Post-collapse performance is irrelevant.
> SBF's lawyer: It was a $91 million investment now worth $1 billion.
> Judge Kaplan: The crime charged is that he took the money.
Would have could have, holding it is the main difficulty, not as hard as buying. Millions of stories where if they held NVDA/bitcoin, they’d be rich
If only Sam wasn't caught, then he'd have more than enough to refill what he stole, ironic.
Assuming they would not have liquidated it earlier (perhaps via some semi-legal instrument) to cover past or future bad decisions. Crypto certainly isn’t doing well now.
The 7.84% state would probably be significantly diluted over this time frame so 4-5% is probably a more accurate estimate but perhaps high estimate.
Trustees, not estate.
If only the role of trustees wasn't to do as they can to make creditors as whole as possible now, without risk, rather than keep playing the same kind of bets that got the bankrupt entity into the hole it was in...
Liquidity has value too. Many FTX customers needed immediate liquidity. If you need immediate liquidity the value proposition years later is meaningless for most people because most people can’t get any bridge financing to cover the gap.
Mt. Gox also ran a fractional exchange for a long time until the bottom fell out. The trouble is that you simply can’t run an unannounced fractional exchange.