SBF’s lawyers ask the court to allow humanitarian evidence to be presented Cryptocurrency scrgruppen

in a movement In the lawsuit filed on October 10, lawyers for Sam “SBF” Bankman-Fried asked the court to allow evidence supporting positive investment outcomes, such as an investment in artificial intelligence startup Anthropic.

This comes after US prosecutors filed a motion on October 9 to bar SBF’s legal team from presenting any arguments related to recovering FTX clients’ funds through Anthropic Investing.

Bankman-Fried invested $500 million in the AI ​​startup in April 2022 before the stock market crash. The US Department of Justice (DOJ) is set to present evidence that the investment was made using fraudulent funds from customer deposits.

However, the lawyers contend that the government’s position “misread” the importance of the evidence and “respectfully” asked the court to deny the government’s request.

They went on to point out that the government leveraged Alameda’s investment portfolio several times during the trial, which they said was “risky” and “losing money.”

“In response, the Defense should be permitted to provide evidence of the positive (i.e. humanitarian) investment outcomes of such investments in projects…”

Anthropic recently received major investments from e-commerce giant Amazon totaling $4 billion and $100 million from South Korean telecom giant SK Telecom.

Related: Sam Bankman-Fried requested ‘special privileges’ for Alameda account on FTX — Gary Wang

SBF’s lawyers said the defense had no objection to the court providing “appropriate restrictive instructions” regarding how the Anthropic Investment evidence could be used.

The second week of the former FTX CEO’s criminal trial continues on October 11. SBF faces seven counts of conspiracy and fraud linked to the FTX collapse, to which he has pleaded not guilty.

Cointelegraph reporters are on the ground in New York covering the trial. As the story develops, check here for the latest updates.

magazine: SBF trial underway, Mashinsky trial group, Binance market share shrinking: Hodler’s Digest, October 1-7

Cryptocurrency scrgruppen

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