Lawyers Request Court Approval for Evidence of Sam Bankman-Fried’s Investment in Anthropic
Lawyers representing Sam Bankman-Fried have filed a letter to Judge Lewis A. Kaplan, asking for permission to use evidence related to his investment in Anthropic, an artificial intelligence startup that recently secured fresh funding. They argue that the prosecution’s request to exclude mentions of Anthropic is irrelevant. The attorneys state that evidence of the current value of the investment is crucial in countering the government’s claims and showcasing Bankman-Fried’s good faith.
Bankman-Fried’s lawyers also highlight the prosecution’s repeated references to Alameda’s venture investments during the trial, characterizing them as risky and money-losing. In response, they argue that testimony from Caroline Ellison about the nature of venture capital investing should be allowed, including the significant appreciation in Anthropic’s value since last year.
The Department of Justice, in its filing, alleges that Bankman-Fried used stolen funds from FTX customers to invest approximately $500 million in Anthropic in 2022. The DOJ argues that evidence of the investment’s current value serves an impermissible purpose by suggesting victims will be compensated.
Anthropic Raises Fresh Funding
Last week, Anthropic secured new funding from investors including Google, potentially raising its valuation to $30 billion. This development could potentially lead to a 100% recovery rate for FTX assets in its bankruptcy proceedings due to Bankman-Fried’s stake in Anthropic.
Hot Take: The Significance of Anthropic’s Valuation for FTX Assets Recovery
The recent funding round and increased valuation of Anthropic offer a glimmer of hope for FTX and its stakeholders. With Bankman-Fried’s substantial investment in the company, there is potential for a full recovery of FTX assets. This development highlights the interplay between the crypto and artificial intelligence sectors, where investments in cutting-edge technologies can have a positive impact on the outcomes of related ventures.
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