Judge Signs Major Order In Sam Bankman-Fried Lawsuit
In the latest development in the United States v. Sam Bankman-Fried, the federal judge granted prosecutors’ motion to preclude Sam Bankman-Fried from introducing evidence or argument about the current value of certain investments made by the defendant, especially $500 million investments in artificial intelligence company Anthropic.
Judge Preclude Sam Bankman-Fried From Investments Related Evidence
According to a court filing late October 16, Judge Lewis A. Kaplan signed an order granting prosecutors’ motion to prevent Sam Bankman-Fried from mentioning the value of current investments in artificial intelligence firm Anthropic. The prosecutors allege that the $500 million investment made by SBF in 2022 was made from stolen funds from FTX customers.
“For the reasons stated on the record in open court, the government’s motion to preclude the defendant from introducing evidence or argument about the current value of certain investments made by the defendant is granted.”
Prosecutors believe such evidence would therefore be wholly irrelevant, and present a substantial danger of unfair prejudice, confusing the issues, misleading the jury, undue delay, and waste of time. Along with FTX co-founder Bankman-Fried, former head of engineering Nishad Singh, and former Alameda Research CEO Caroline Ellison were also investors in Anthropic.
The defense even questioned Alameda CEO Ellison about investments in Anthropic. Ellison said she did as SBF forced to commit fraud, commingling customer funds.
SBF Seeks to Delay Trial
The defense has growing concerns that Sam Bankman-Fried may not testify without a 12-hour extended-release 20 mg dose. Lawyers said Sam Bankman-Fried is not able to focus without his prescribed medication. The lawyers have discussed it with the Court and Government, but they showed less effort to address the issue.
Meanwhile, Nishad Singh, the former head of engineering at FTX, testified that he knew about how the company used customers’ money in a way that was wrong. Prosecutors remain skeptical of the move as it may delay the lawsuit.
Also Read:
- FTX Debtors to Return 90% of Distributable Value to Customers
- Bitcoin, Solana, XRP Record Massive Buying By Institutional Investors
- FTX Spent $1.3B in Celebrity Promotion and Deals, Trial Reveals
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Premium Partners
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- Why Is Crypto Market Up Today?
- Trump Tariffs: Crypto Market Surges After $400B Dividend Announcement for Americans
- Michael Saylor Hints Bitcoin Buy As Goldman Sachs Predicts Three Fed Rate Cuts
- What’s Behind Ethereum’s Drop: Macro, TVL, DeFi & Liquidity Zones
- Bitcoin ETFs Record Biggest Daily Outflow Since August as OG Whales Cash Out
- After a 17% Jump, Is Litecoin Price Rebound Sustainable Amid Dominant Sell Activity?
- Cardano Price Soars 10% Amid Retail Accumulation: Will Bulls Target $1?
- Bitcoin Price: How Low BTC Could Fall by the End of 2025?
- Post-Giveaway Supply Shock: Impact on FUNToken’s Liquidity and Market Depth
- Aster Price Poised to Hit $2 as Coinbase Adds ASTER to Listing Roadmap
- Filecoin Price Rockets 51% as Grayscale’s FIL Holdings Hit Record High — What’s Next for FIL?
