Prosecutors Want to Avoid Mention of Humanity in Sam Bankman-Fried Trial

Prosecutors are seeking to prevent Sam Bankman-Fried from mentioning AI startup Anthropic during the trial.

The move comes in response to media reports that Anthropolog will raise billions in funding from Google, shortly after it announced a similar investment from Amazon.

The news sparked optimism among FTX's creditors, who expect a significant financial recovery due to Bankmann-Fried's anthroponic investment.

However, prosecutors aim to limit any discussion of the Anthropocene in the trial.

On Saturday night, Assistant US Attorney Tane Ren filed a motion asking Judge Lewis Kaplan to bar Banman-Fried from raising the issue.

At the hearing, he cited an earlier ruling by Judge Kaplan that said Rehn's intention to pay back the misappropriated funds was legally irrelevant.

Wren argued that any anthropogenic evidence would be immaterial, leading to unfair prejudice, confusion, misleading the jury, and a waste of time.

Additionally, Rehn highlighted the speculative nature of venture capital investments by citing the example of FTX's own valuation fluctuations.

In the year Despite raising significant venture capital investments to $18 billion by 2021 and $32 billion by 2022, FTX shares are currently considered undervalued.

The defense has not yet responded to the request. The trial will continue on Tuesday, where the co-founder of Alameda Research and FTX, Gary Wang, and the former CEO of Alameda Research, Caroline Ellison, may be the first witnesses.

Wang testifies against Bankman-Fried.

Last week, Wang testified in court that he and former FTX boss Sam Bankman-Fried committed wire fraud.

He and Bankman-Fried engaged in financial crimes and fraud that ultimately led to the collapse of the cryptocurrency trading platform.

Wang, chief technical officer of FTX and co-owner of Alameda Research, a cryptocurrency hedge fund founded by Wang and Bankman-Fried in 2017, admitted to wire, commodity and commodity fraud.

The duo allegedly siphoned $8 billion from FTX funds at Alameda Research. Wang went on to say that Bankman-Fried directed these illegal activities.

He also confirmed that he and Banman-Fried deliberately misled the public and allowed Alameda Research to withdraw money from FTX.

“We've allowed Alameda to draw unlimited funds,” he said, adding that the hedge fund is allowed to hold negative balances and unlimited open positions, with lines of credit that run the computer code operation totaling a staggering $65 billion.

Earlier in the trial, Adam Yedidia Alameda, a software developer who worked at FTX, testified that he left the company after learning that it was using investors' money to pay off creditors.