In a movement filed on Oct. 10, Sam “SBF” Bankman-Fried’s legal professionals requested that the court docket enable for the introduction of proof supporting optimistic funding outcomes, reminiscent of an funding within the synthetic intelligence (AI) startup Anthropic.
This comes after United States prosecutors filed a request on Oct. 9 to bar SBF’s authorized workforce from making any arguments associated to FTX buyer funds restoration by means of the Anthropic funding.
Bankman-Fried made a $500 million funding within the AI startup in April 2022 earlier than the trade’s collapse. The U.S. Division of Justice (DOJ) is ready to present proof that the funding was made utilizing fraudulent funds from buyer deposits.
Nonetheless, legal professionals attest that the federal government’s place “miscasts” the relevance of the proof and “respectfully” requested the court docket to disclaim the federal government’s movement.
They continued to level out that the federal government had raised Alameda’s enterprise investments a number of instances throughout the trial and argued they had been “dangerous” and “shedding cash.”
“In response, the protection must be permitted to introduce proof of optimistic funding outcomes (i.e. Anthropic) of such enterprise investments…”
Anthropic has lately obtained main investments from e-commerce big Amazon totaling $4 billion and $100 million from South Korean telecommunications big SK Telecom.
Associated: Sam Bankman-Fried ordered ‘particular privileges’ for Alameda account on FTX — Gary Wang
SBF’s legal professionals mentioned the protection has no objection to the court docket offering an “applicable limiting instruction” concerning how Anthropic funding proof could possibly be used.
The second week of the legal trial of the previous FTX CEO continues on Oct. 11. SBF faces seven fees of conspiracy and fraud tied to the collapse of FTX, to which he has pleaded not responsible.
Cointelegraph reporters are on the bottom in New York overlaying the trial. Because the saga unfolds, examine right here for the most recent updates.
Journal: SBF trial underway, Mashinsky trial set, Binance’s market share shrinks: Hodler’s Digest, Oct. 1–7
