Legal Battle Intensifies Over Anthropic Stake
As the trial of Sam Bankman-Fried advances, United States prosecutors are urging the court to prevent the defendant’s legal team from referencing the possible recovery of FTX customer assets through the notable valuation of AI startup, Anthropic. Bankman-Fried had invested $500 million in Anthropic in April 2022.
Questioning the Funds Behind Anthropic Investment
Prosecutors are prepared to present evidence suggesting that Bankman-Fried’s significant investment in Anthropic was financed through misappropriated FTX customer deposits. The burgeoning valuation of Anthropic, which is currently engaging investors for additional funding with an expected valuation between $20 to $30 billion, is seen as irrelevant to the case by prosecutors.
Disputing the Relevance of Profitable Investments
The prosecution asserts that the valuation of Bankman-Fried’s investment in Anthropic and the potential full compensation for FTX customers and victims are not pertinent to the case. They believe that introducing this evidence could mislead the jury and cause unnecessary delay, as the indictment focuses on allegations of wire fraud and misappropriation of customer deposits for investments.