FTX bankruptcy-related legal costs exceed $700 million

FTX sold its remaining stake in artificial intelligence start-up Anthropic as bankruptcy-related legal and administrative costs exceeded $700 million. According to the latest filing, FTX sold 15 million remaining shares at about $30 per share, for a total price of more than $450 million. The largest buyer was global venture capital fund G Squared, which bought about a third of the remaining shares, or 4.50 million shares, for $135 million. Venture capital funds also made up the majority of the other 20 buyers of Anthropic shares. That allowed FTX's initial $500 million investment to appreciate to about $1.30 billion, a profit of about $800 million.