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In its ongoing attempts to reimburse creditors, bankrupt crypto exchange FTX seeks a judicial green light to offload its roughly 8% stake in AI firm Anthropic. On Feb. 3, FTX filed a motion in the U.S. Bankruptcy Court for the District of Delaware, asking the court to approve the sale of the failed exchange’s 8% equity stake in Anthropic. Looks like FTX is looking to sell their Anthropic equity and should get around $1.5B for it. If there was any questions on creditor being made whole (at petition date prices) before, this should clear all doubts. pic.twitter.com/dyyohrSOkZ — G3 (@g3_capital) February 3, 2024 Underscoring the urgency of the matter, the company also filed a second motion seeking to expedite the deliberation period for the first motion with the hope that it can get a hearing by Feb. 22. Anthropic is a Delaware public benefit corporation working on large language models similar to GPT-3. Its $18 billion valuation in December 2023 means that FTX’s 8% stake ...

Bittrex has adopted a similar approach to Coinbase, aligning its arguments closely with those made by the larger cryptocurrency exchange. Bittrex, a crypto currency exchange, has made a notable move in its legal dispute with the United States Securities and Exchange Commission (SEC) by submitting a motion to dismiss the lawsuit filed against it. In its recent court filing, Bittrex argues that the SEC does not possess the necessary authority to regulate cryptocurrencies as securities unless explicitly granted by Congress. This assertion challenges the SEC's interpretation of existing securities regulations and seeks to establish a more defined regulatory framework that accommodates the distinct characteristics of digital assets. In its motion to dismiss, Bittrex has adopted a similar approach to Coinbase, aligning its arguments closely with those made by the larger cryptocurrency exchange. This alignment indicates a strategic move by Bittrex to capitalize on the robust legal fram...