A judge in the US has approved FTX’s request to sell its significant investment in the AI startup Anthropic, allowing the bankrupt cryptocurrency exchange to raise more funds to repay its customers. FTX plans to sell its $1 billion stake in Anthropic. FTX’s plan to sell its 7.84% stake in Anthropic, an AI safety and research firm based in the US, was given the green light by US bankruptcy Judge John Dorsey in Wilmington, Delaware on Thursday, February 22nd. Following the filing of a motion on February 503 by the bankrupt cryptocurrency exchange, the decision was made to auction off its Anthropic Series B stock and any related rights or interests. Additionally, it was announced that Shiba Inu ERC-404 NFTs are prepared for release, with key details provided by the Marketing Lead. In 2021, FTX strategically invested over $500 million in Anthropic, a move that proved highly lucrative when the company’s value soared. As the AI company raised more funds, the original ownership stake of more than 13.5% decreased. After Anthropic’s recent funding rounds, the startup was expected to be valued at $15 billion, increasing the value of FTX’s ownership to over $1 billion. The increase in FTX’s stock value has led the struggling crypto exchange to consider selling its shares in order to strengthen its financial reserves. During a court hearing, FTX’s attorney mentioned plans to sell Anthropic shares and deposit the proceeds into the company’s bank account. The exchange intends to carefully time the sale of its shares to optimize their value and enhance its selling strategies, with the ultimate goal of using the funds to repay creditors. After selling its 7.84% stake in Anthropic, FTX announced plans to use the proceeds to pay off all of its debts. In December 2023, the founder of FTX, Sam Bankman-Fried, was convicted of fraud and money laundering. During the trial, it was revealed that the former CEO and his associates had improperly used more than $8 billion of customer funds.