FTX founder Sam Bankman-Fried ought to be barred from citing latest fundraising efforts for synthetic intelligence firm Anthropic in his protection in opposition to U.S. Justice Division prices, prosecutors stated Sunday.
The Justice Division was discussing points that may come up throughout witness testimony within the Bankman-Fried trial, and the events “have reached settlement on many of those points.” Filing said. One space they remained separate on was whether or not the protection workforce may elevate any points round humanitarian fundraising. The Division of Justice alleges {that a} $500 million funding in Anthropic in 2022 got here from consumer funds.
“Proof concerning the present worth of defendant’s investments can solely be used to assist the argument that FTX’s purchasers and/or different victims will in the end be healed, which the court docket acknowledged was an impermissible function,” the lawsuit stated.
a abstract: Former Alameda Research CEO Carolyn Ellison will testify Tuesday in the trial of Sam Bankman Fried.
The Justice Division has beforehand tried to dam Bankman-Fried’s protection workforce from arguing that FTX’s collectors will get most or all of their cash.
“The indictment alleges that the defendant dedicated wire fraud by misappropriating FTX buyer deposits to make investments and different bills. It’s immaterial whether or not a few of these investments could in the end show worthwhile,” the Justice Division’s submitting stated. “…It could additionally not be a protection to the costs on this case if the defendant invested the stolen FTX funds with the assumption that the investments would ultimately be so worthwhile that he may repay the stolen funds.”
Anthropic has an settlement with Amazon price as much as $4 billion and is in talks to lift one other $2 billion. Bloomberg reported final week.
FTX took a stake in Anthropic price $500 million when it filed for chapter a couple of 12 months in the past. Firm chapter trustee Not sold yet Interval.
Thomas Brazile, founder and CEO of advisory agency 117 Companions, instructed CoinDesk that the information concerning the fundraising was “an incredible flip of occasions for FTX collectors.”
Learn all CoinDesk coverage here.