US Gov Lost $4.7 Billion By Selling FTX’s Anthropic Shares Early
TREE NEWS reports: The US Marshals Service sold Anthropic shares seized from FTX executives in 2025, but the stake is now worth an estimated $5 billion—meaning the government left roughly $4.7 billion on the table. The early sale, executed at a fraction of the current valuation, highlights the opportunity cost of liquidating seized assets in volatile tech markets.
What Happened
In the aftermath of FTX’s collapse, US authorities seized shares in Anthropic, the AI startup backed by FTX’s Sam Bankman-Fried. The US Marshals auctioned those shares in 2025 to recover funds for victims. At the time, the sale was seen as a prudent move to monetize a non-liquid asset. However, Anthropic’s valuation has since surged to over $100 billion, making the government’s decision look premature.
Industry Analysis
This episode underscores a recurring tension in crypto-related bankruptcies: the desire to return funds quickly versus the potential for higher recoveries through patient asset management. In FTX’s case, the estate itself has been criticized for selling assets too fast, including Solana (SOL) and other crypto holdings. The Anthropic sale is a stark reminder that seized assets—especially in high-growth sectors like AI—can appreciate dramatically in short periods.
For the crypto market, the news is a cautionary tale about forced liquidations. When governments or estates dump assets, they can depress prices and miss out on upside. Conversely, holding assets longer carries risk of further decline. The optimal strategy is often a structured, gradual divestment, but legal and political pressures often push for quick resolutions.
Forward-Looking Perspective
Looking ahead, this incident may influence how future crypto-related seizures are handled. The US government could adopt more flexible frameworks, such as holding assets in escrow or using derivatives to hedge downside while retaining upside. For investors, it highlights the importance of understanding liquidation dynamics—both in bankruptcies and regulatory actions—as they can create both risks and opportunities.
As AI continues to intersect with crypto, assets like Anthropic shares may become more common in crypto portfolios. The lesson from this sale is clear: timing matters, and sometimes the best move is to hold.
