Bankman-Fried’s legal team seeks to offer a humanitarian stake Cryptocurrency scrgruppen

Lawyers representing Sam Bankman-Fried have formally requested court approval to present evidence related to his investment in Anthropic, an artificial intelligence startup. In a letter addressed to Judge Louis A. Kaplan, SBF’s legal team argued that prosecutors’ recent request to block any discussion of Anthropics misinterprets the importance of the evidence.

Sam Bankman-Fried’s investment in Anthropic in 2022, which has seen a valuation spike due to recent funding rounds, will likely result in a full payout to FTX’s creditors, a cryptocurrency bankruptcy lawyer assessed last week.

The SBF’s legal team says humanitarian evidence is relevant

The legal team representing SBF has Confirm Evidence of the present value of Anthropic Investment is directly relevant to refuting the government’s opening statement and testimony to date, as well as its good faith.

They noted that prosecutors repeatedly brought up Alameda’s investments throughout the trial, calling them “risky.”

Furthermore, Bankman-Fried’s attorneys said they should be allowed to present testimony from Carolyn Ellison regarding the nature of the venture capital investment portfolio. They assert that the significant increase in Anthropic’s value since the previous year provides vital context and relates to the testimony provided by Ms. Ellison in relation to the expected value analyses.

Prosecutors reject anthropological evidence

The Department of Justice (DOJ) alleged in its previous filing that Sam Bankman-Fried invested nearly $500 million in Anthropic in 2022, money they claim was illicitly obtained from FTX clients.

They stressed that evidence regarding the current value of the defendant’s investments might be used to suggest that FTX clients or other victims could eventually be compensated, an argument the court already deemed impermissible.

The primary argument in the case against Bankman-Fried centers around the alleged improper use of FTX clients’ funds in various investments. The prosecution asserts that the profitability or lack thereof of these investments has nothing to do with the criminal charges.

Furthermore, the government intends to provide evidence of the alleged misappropriation of customer funds, which resulted in significant financial losses for FTX. However, they made it clear that they would not delve into the ultimate financial status of the victims following FTX’s bankruptcy proceedings.

Notably, Anthropic recently secured additional funding from Google and other investors, which could raise its valuation to $30 billion. This rise in valuation could facilitate FTX achieving a “100% recovery rate” in assets as part of the exchange’s ongoing bankruptcy proceedings, given Bankman-Fried’s large stake in Anthropic.

Special Offer (Sponsored)

Free Binance $100 (Exclusive): Use this link to sign up and get free $100 and 10% off Binance Futures in your first month (conditions).

PrimeXBT Special Offer: Use this link to register and enter code CRYPTOPOTATO50 to receive up to $7,000 on your deposits.

You may also like:

  • FTX gets court approval to liquidate its cryptocurrency holdings
  • Judge refuses to release Sam Bankman-Fried before trial
  • The court rejects Sam Bankman Fried’s requests to be released from prison before trial

Cryptocurrency scrgruppen

Related Articles

Back to top button