Black_background_logo_BitcoinWorld-removebg-preview
Latest News

Attorneys for SBF request permission from the court to include anthropological evidence.

Sam Bankman-Fried’s legal team penned a letter to Judge Kaplan, urging the court to permit the introduction of evidence regarding their investment in Anthropic, an artificial intelligence (AI) startup, made back in April 2022. This motion, dated October 10, was in response to United States prosecutors’ request on October 9, which aimed to prevent SBF’s defense from discussing the recovery of FTX customer funds through their involvement with Anthropic.

Bankman-Fried, commonly known as “SBF,” initiated a substantial $500 million investment into Anthropic in April 2022, just before the collapse of the exchange. The U.S. Department of Justice (DOJ) is prepared to present evidence suggesting that this investment was funded using fraudulent customer deposits.

Nevertheless, the legal representatives argue that the government’s stance misrepresents the relevance of this evidence. They respectfully requested the court to deny the government’s motion and emphasized that the government had repeatedly portrayed Alameda’s venture investments as “risky” and “money-losing” during the trial.

In response, the defense asserts that they should be allowed to present evidence showcasing the positive outcomes of such venture investments, with Anthropic as a prime example. It’s worth noting that Anthropic recently secured substantial investments, including $4 billion from the e-commerce giant Amazon and $100 million from the South Korean telecommunications giant SK Telecom.

SBF’s legal team also expressed their willingness to comply with any appropriate instructions provided by the court concerning the use of Anthropic investment evidence. The second week of the trial for the former FTX CEO, which commenced on October 11, centers around seven charges related to conspiracy and fraud in connection with the FTX collapse. SBF has entered a plea of not guilty.

Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.