Bankman-Fried's Legal Team Seeks to Use Anthropic Stake as Evidence in Case

Sam Bankman-Fried’s Lawyers Request Court Approval to Present Anthropic Evidence

Lawyers representing Sam Bankman-Fried have formally requested the court’s approval to introduce evidence related to his investment in Anthropic, an artificial intelligence startup. They argue that the prosecutors’ request to prevent any discussion of Anthropic misinterprets the significance of the evidence. Bankman-Fried’s investment in Anthropic has the potential to lead to a complete payout for FTX creditors.

SBF’s Legal Team Says Anthropic Evidence is Relevant

Bankman-Fried’s legal team emphasizes that evidence of the current value of the Anthropic investment is relevant to rebutting the government’s opening statement and testimony, as well as his good faith. They argue that prosecutors have consistently characterized Alameda’s venture investments as “risky.” They also believe that the substantial increase in Anthropic’s value since the previous year provides vital context and pertains to expected value analyses.

Prosecutors Dismiss Anthropic Evidence

The Department of Justice (DOJ) argues that Bankman-Fried invested illicitly obtained funds from FTX customers into Anthropic. They claim that evidence regarding the present value of his investments could suggest eventual compensation for victims, which the court has deemed impermissible. The core argument against Bankman-Fried centers on the alleged improper utilization of customer funds, with profitability being irrelevant to the charges.

The government intends to provide evidence of misappropriation of customer funds and resulting financial losses for FTX, but they will not delve into victims’ financial status after bankruptcy proceedings.

Hot Take: Sam Bankman-Fried’s Investment in Anthropic Could Facilitate FTX Recovery

Anthropic recently secured additional funding, potentially elevating its valuation to $30 billion. This surge in valuation could potentially facilitate FTX in achieving a “100% recovery rate” in assets during bankruptcy proceedings, thanks to Bankman-Fried’s significant stake in Anthropic.