FTX’s Investment in Anthropic Under Scrutiny
Anthropic, the generative AI startup, is reportedly seeking an additional $2 billion in funding, which could raise its valuation to $20-30 billion. FTX, a major investor in Anthropic, is hopeful that the value of its shares in the startup will help recover losses for FTX’s clients. The FTX 2.0 Coalition, a group of FTX creditors, expressed their optimism on social media.
However, federal prosecutors overseeing the Sam Bankman-Fried case have requested that any discussion related to Anthropic’s investment be excluded from the trial. They argue that the focus should be on whether Bankman-Fried misused client funds, not on the potential profitability of Anthropic’s investments.
The Prosecutor’s Argument
The prosecutor emphasized that allowing evidence of Anthropic’s valuation would lead to a lengthy discussion about the assets available in bankruptcy and their ability to cover losses for customers and other creditors. The prosecutor believes this evidence is irrelevant since the government has not presented any proof of potential recovery amounts for the victims.
Furthermore, the FTX estate has temporarily halted the sale of its shares in Anthropic as it deals with legal charges against Bankman-Fried.
Hot Take: Government Prioritizes Misuse of Funds over Potential Profits
The federal prosecutors overseeing the Sam Bankman-Fried case are pushing to sideline discussions about Anthropic’s investment during the trial. Their focus is on determining whether Bankman-Fried deceitfully misused client funds rather than whether those investments were profitable. By requesting that evidence of Anthropic’s valuation be excluded from the trial, prosecutors argue that it is immaterial to the case and could divert attention from more crucial matters. This prioritization underscores the government’s commitment to addressing the alleged misuse of funds and seeking justice for the victims.
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