Attorneys representing Sam Bankman-Fried have formally requested the court docket’s approval to introduce proof associated to his funding in Anthropic, a synthetic intelligence startup. In a letter addressed to Choose Lewis A. Kaplan, SBF’s authorized group argued that the prosecutors’ latest request to forestall any dialogue of Anthropic misinterprets the importance of the proof.
Sam Bankman-Fried’s funding in Anthropic in 2022, which has seen a surge in valuation as a result of latest funding rounds, has the potential to steer to a whole payout for FTX collectors, in accordance with a crypto chapter lawyer’s evaluation final week.
SBF’s Authorized Crew Says Anthropic Proof is Related
The authorized group representing SBF has emphasised that the proof of the present worth of the Anthropic funding is squarely related to rebutting the federal government’s opening assertion and testimony up to now, in addition to his good religion.
They identified that prosecutors have persistently introduced up Alameda’s enterprise investments all through the trial, characterizing them as “dangerous.”
Moreover, Bankman-Fried’s legal professionals argued that they need to be permitted to current testimony from Caroline Ellison relating to the portfolio nature of enterprise capital investing. They contended that the substantial enhance in Anthropic’s worth for the reason that earlier yr gives very important context and pertains to testimony supplied by Ms. Ellison relating to anticipated worth analyses.
Prosecutors Dismiss Anthropic Proof
The Division of Justice (DOJ) contended in its earlier submitting that Sam Bankman-Fried invested roughly $500 million in Anthropic in 2022, funds which they allege had been obtained illicitly from FTX prospects.
They emphasised that proof relating to the current worth of the defendant’s investments is likely to be employed to counsel that FTX prospects or different victims may finally be compensated, an argument that the court docket has already deemed impermissible.
The core argument within the case in opposition to Bankman-Fried facilities on the purported improper utilization of FTX buyer funds for various investments. The prosecution asserts that these investments’ profitability or lack thereof is irrelevant to the felony fees.
Moreover, the federal government intends to offer proof of the claimed misappropriation of buyer funds, leading to substantial monetary losses for FTX. Nevertheless, they clarified that they won’t delve into the last word monetary standing of victims after the chapter proceedings of FTX.
Notably, Anthropic just lately secured further funding from Google and different buyers, doubtlessly elevating its valuation to as excessive as $30 billion. This surge in valuation may doubtlessly facilitate FTX in attaining a “100% restoration fee” in belongings as a part of the alternate’s ongoing chapter proceedings, given Bankman-Fried’s important stake in Anthropic.
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