Prosecutors in the ongoing Sam Bankman-Fried’s trial have requested the judge to prevent the defendant from presenting the current value of FTX’s $500 million investment in Anthropic, a startup artificial intelligence company.
The government alleges that SBF used funds stolen from FTX customers to invest approximately $500 million in Anthropic back in April 2022.
In a recent court filing, US attorney Damian Williams asked Judge Kaplan, presiding over SBF’s trial, to preclude the introduction of any evidence or arguments related to the value of certain investments made by the defendant.
Prosecutors Argue FTX’s Anthropic Investment Irrelevant to the Case
The government’s argument centers on the assertion that presenting evidence about the current value of FTX’s $500 million Anthropic investment would be irrelevant to the case.
They argue that such evidence could only serve to bolster the defense’s argument that FTX customers and other victims would eventually be compensated, which the court has already deemed an impermissible purpose.
The court’s prior order in a similar case has been cited as supporting this perspective.
As reported earlier, OpenAI rival Anthropic has recently announced plans to raise additional funds from major investors like Amazon and Google.
Reports suggest that the company is eyeing a valuation between $20 billion and $30 billion, potentially increasing the value of SBF’s investment significantly.
This development has led to speculation that the increased valuation could enhance the recovery prospects for FTX customers and other creditors involved in the FTX bankruptcy proceedings.
The prosecution is asking the judge to block the presentation of Anthropic investment value in the trial to eliminate any potential for undue prejudice, confusion, or waste of time.
So far in the high profile trial, a little has gone in the favor of the defendant with prosecution’s star witness Caroline Ellison yet to take the stand.
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