SBF Will Not Be Allowed To Use Anthropic As Leverage, As Per The DOJ
Prosecutors argue that Sam Bankman-Fried, the founder of FTX, should not be allowed to mention the recent fundraising activities of Anthropic in his defense against charges brought by the U.S. Department of Justice.
The DOJ and the defense have come to an agreement on many aspects of witness testimony for the trial, but they disagree on whether the defense should be allowed to bring up any issues related to the Anthropic fundraising. The DOJ contends that the $500 million investment in Anthropic in 2022 was sourced via customer funds.
The filing asserts that using evidence concerning the current value of any investments Sam may have can only be employed to support the argument that FTX customers and potential victims will eventually be compensated, which the Court has deemed unacceptable.
Moreover, the DOJ filing emphasizes that the indictment accuses the defendant of wire fraud for misappropriating FTX customer deposits to make investments and other expenses. It is irrelevant whether some of these investments might ultimately yield profits.
Additionally, it would not serve as a defense to the charges if the defendant invested stolen FTX funds with the belief that these investments would eventually generate significant returns and allow him to repay the stolen money.
Regarding Anthropic, it has a substantial agreement with Amazon potentially valued at up to $4 billion, and there are ongoing discussions to secure an additional $2 billion in funding.
Top News
4 days ago
5 days ago
16 days ago
More From The News
Press Releases
Payments
New Payment Limit For Crypto Wallets Scrapped
The recent Anti-Money Laundering re... Read more
Bitcoin
Bitcoin Undergoes Price Correction As International Economies
A significant portion of the crypto... Read more
Join Our Newsletter
Get the latest trends and updates on our crypto community.