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FTX customers are demanding substantial payouts from the bankrupt crypto firm. These customers claim three digital tokens, known as “Sam Coins,” deserve a higher value despite their association with convicted co-founder Sam Bankman-Fried.
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Bankrupt crypto exchange FTX will sell two-thirds of its stake in artificial intelligence (AI) startup Anthropic for $884 million, according to a Bloomberg report. The move comes as FTX seeks to repay its creditors and bolster its cash reserves.
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Former FTX customers, left uncertain of the fate of their funds after the collapse of the now-bankrupt crypto exchange, have turned their misfortune into a potentially profitable venture.
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FTX has recently reached an agreement on the sale of its European branch following a legal dispute between the exchange’s management and the eventual buyers. This development comes as the embattled crypto exchange continues to gather more liquidity in a bid to pay off its million creditors.
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A United States Judge has granted the request of FTX, the bankrupt cryptocurrency exchange, to sell off its substantial stake in an Artificial Intelligence (AI) startup company, Anthropic, enabling the exchange to accumulate more funds to repay its customers.
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In an interesting development, FTX creditors have launched a class action lawsuit against Sullivan and Cromwell (S&C), the law firm that is currently responsible for handling the bankruptcy proceedings of the defunct exchange.
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