FTX, now a bankrupt cryptocurrency exchange, is battling a financial crisis. To ensure the success of its restructuring plan, it is selling its shares of companies in which it had invested in at an early stage.
As per a report from Semafor, Sam Bankman-Fried, the founder of FTX, plans to sell the crypto exchange’s shares of Anthropic, which is a competitor of Chatgpt and other leading artificial intelligence models.
Anthropic might face trouble in the coming time if its major investor FTX/ Sam Bankman, sells their shares worth $500 million.
It is important to note that FTX and its boss both invested millions of dollars in the budding stages of Anthropic. According to reports, Bankman Fried was a lead investor in a Series- B funding round which raised $580 million.
Crunchbase data states that Nishad Singh, Director of Engineering at FTX, is also a lead financial backer of Anthropic, and some other data claims that he was also helping the team develop OpenAI.
Some other investors of Anthropic include Menlo Ventures, Zoom Ventures, Google, Sound Ventures, Spark Capital, Salesforce Ventures, James McClave, and Jann Tallinn.
Significant personal investments of Sam Bankman-Fried includeTrustless Media, Anthropic, Causal, Compound, Worldcoin, and DoNotPay. Sam and his firms’ joint partnerships include 3Commas, Edge Tradeworks, Robinhood, BetDEX, Faraway, Chipper Cash, Liquid Global, Helium, TrueFi, and Archblock. Additionally, Gabriel Bankman-Fried and Sam Bankman-Fried co-founded a non-profit organization called Guarding Against Pandemic that advocates for public investment to avoid the next pandemic.
Sam was on the board of directors of a globally popular NFT platform that brings together iconic brands in sports and culture to create digital collections. This was a NFT platform that was founded by former American footballer, Tom Brady.
FTX Has Deep Roots in Corporate
Numerous sources suggest that FTX and its trading arm Alameda Research have invested in 100 companies including Lemon Cash, Joepegs, Martian, Paragraph, Celestia, Exponential DeFi, MSafe, Coral, Tactic, NEAR, Cogni, 80 Acres Farms, Limit Break, Empiric Network, SecureSave, Kwil, Swim, PlayUp, SEBA Bank, Web3Auth, Momento and BetDEX.
Following the FTX collapse, several crypto lenders and exchanges have opted for bankruptcy due to a lack of funds. It is important to note that after its downfall, more than $150 billion vanished from the crypto industry in just 78 hours.
Sam was one of the youngest crypto entrepreneurs who was also famous for the ways he promoted his crypto exchange. Dozens of sporting partnerships with the Miami Heats, the ICC Men’s Cricket World Cup, and F1 racing, were majorly funded by FTX and Alameda.
