Published on February 22, 2024 21:47 GMT+00:00edited on February 22, 2024 21:49 GMT+00:00

A U.S. bankruptcy judge approved crypto exchange FTX's move to sell its stake in AI startup Anthropic during a hearing on Thursday. Doing so will help the collapsed exchange's creditors get closer to being made whole. 

Judge John Dorsey of the Bankruptcy Court for the District of Delaware approved the motion to sell after hearing from creditors on whether or not the sale process should be approved. 

Earlier this month, FTX filed for permission to sell its nearly 8 percent stake in Anthropic, into which its jailed former CEO Sam Bankman-Fried had invested $500 million in 2021.

The judge heard some opposition from David Adler, claiming to represent some of FTX's creditors over concerns that their rights are preserved. This issue was later resolved by tweaking the order to …