A new mammoth fundraising round for artificial intelligence startup Anthropic that rockets its valuation up to $20-30 billion range has restored faith among FTX creditors that they could recoup 100% of lost funds based on founder Sam Bankman-Fried’s stake in the company.
According to reports, Anthropic is raising upwards of $2 billion from high-profile investors like Google, which would significantly boost the firm’s overall valuation if finalized.
SBF was an early backer of Anthropic, though details are hazy whether his investment came from personal wealth or FTX customer deposits. But his Anthropic shares are now estimated to be worth a whopping $3-4.5 billion given the AI company’s inflated new valuation.
Potential Windfall for FTX Customers
If SBF’s stake is deemed part of FTX’s assets, the sheer size of that position could enable full recovery for FTX creditors per calculations from some creditors.
This potential multi-billion dollar windfall has renewed hopes for FTX users who had billions locked up on the exchange after its shocking crash and bankruptcy filing.
But complex legal dynamics surround true ownership of SBF’s shares. FTX liquidators and creditors both have claims, as SBF faces lawsuits from multiple entities.
Unclear Origins of SBF’s Involvement
SBF was an early investor in Anthropic, even appointing its co-founder as FTX’s chief research officer at one point. However, details are uncertain whether SBF funded his Anthropic activity with FTX user deposits or personal wealth.
If the shares stemmed from FTX customer funds, liquidators may potentially take control of the stake to make users whole. But if deemed SBF’s personal investment, recouping it becomes far more difficult.
The situation exemplifies the lack of clarity around SBF’s empire that enabled FTX’s collapse. While Anthropic’s valuation jump instills optimism, legal complexities mean long roads still ahead for creditors and depositors seeking recompense.