Situational Awareness ran two auctions at once, and one set of bidders never knew

Situational Awareness lost about $30bn in July after secretly running two auctions simultaneously for its assets. One auction involved selling Anthropic shares to existing investors at a 20% discount, while another larger deal sold leveraged positions to Citadel at a 10% discount. The latter deal was completed first, surprising the initial bidders who were unaware of it.