{"id":25121,"date":"2023-06-07T17:55:51","date_gmt":"2023-06-07T21:55:51","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=25121"},"modified":"2023-06-07T17:55:51","modified_gmt":"2023-06-07T21:55:51","slug":"late-evidence-in-criminal-trial-irks-sbf-ftx-explores-options-for-ai-stock-sale","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/06\/07\/late-evidence-in-criminal-trial-irks-sbf-ftx-explores-options-for-ai-stock-sale\/","title":{"rendered":"Late Evidence In Criminal Trial Irks SBF, FTX Explores Options For AI Stock Sale"},"content":{"rendered":"

Former FTX CEO Sam Bankman-Fried (SBF) is still entwined in his legal battle over the FTX crisis. In a letter, SBF\u2019s legal team<\/a> stated that prosecutors are behind on deadlines for vital evidence to build their defense on numerous fraud charges.\u00a0<\/p>\n

SBF has faced multiple charges since the collapse of FTX, which authorities insist was not an accident but a deliberate and fraudulent act. Since the crash, investigators have worked tirelessly on the case to unravel the true extent of damage to investors.<\/p>\n

SBF\u2019s Lawyers Send Letter To District Judge<\/h2>\n

Sam Bankman-Fried\u2019s lawyers sent a letter<\/a> to United States District Judge Lewis A. Kaplan.\u00a0In the letter, they stated that the government failed to release the entire contents of five electronic devices vital to the case.<\/p>\n

Related Reading: Bitcoin Slips Below $26,000, Triggers Over $300 Million In Liquidations<\/a><\/p>\n

According to this letter, a laptop and iPhone belonging to former Alameda Research CEO Caroline Ellison and a laptop belonging to FTX Co-founder Gary Wang were part of the devices.<\/p>\n

SBF\u2019s legal team noted that since the trial date was less than four months away, the late presentation of these documents would affect their preparation for the defense.\u00a0<\/p>\n

Additionally, the letter stated that the government had failed to produce any information on FTX debtors. The lawyers revealed that over 3.6 million documents were missing, which is a cause for concern for the defendants.\u00a0<\/p>\n

These documents include 2 million Google Search Warrant Documents and approximately 500,000 documents received in response to subpoenas and voluntary production requests.<\/p>\n

Also, there are documents containing the content of Caroline Elisson\u2019s laptop and two other laptops provided by two FTX software developers.\u00a0<\/p>\n

Additional documents containing correspondence on Telegram and Slack also make up these figures and are essential bits of evidence.<\/p>\n

Sam Bankman-Fried is set to appear in court on October 2, 2023, to face fraud charges and additional claims bordering on bribing the Chinese government and illegal donations<\/a>. So, his lawyers are pushing for these documents to prepare a strong defense.\u00a0<\/p>\n

FTX Bankers Seek To Cash Out On AI Shares<\/h2>\n

FTX bankers tasked with reviving the company\u2019s fortunes allegedly seek to cash in on shares in the Artificial Intelligence (AI) sector.\u00a0According to a report by Semanfor<\/a> on June 6, FTX holds a stake in an AI startup Anthropic, currently worth billions of dollars.<\/p>\n

A bank and part of FTX\u2019s revival team, Perella Weinberg, hinted at the sale of shares in Anthropic to investors. Anthropic created a rival to the ChatGPT, the Claude Chatbot, thus gaining massive share value.<\/p>\n

FTX allegedly owned $500 million worth of Anthropic stock before its bankruptcy. Now, the stake is expected to have increased to nine figures and will go to repaying former customers.<\/p>\n

Currently, the bankers are deliberating on a total or partial sale since they believe that AI value will keep rising as it is now a lucrative niche, and Anthropic created two years ago, has an estimated value of $4.6 billion.\n<\/p>\n

Featured image from Pixabay and chart from TradingView.com<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Former FTX CEO Sam Bankman-Fried (SBF) is still entwined in his legal battle over the FTX crisis. In a letter, SBF\u2019s legal team<\/a> stated that prosecutors are behind on deadlines for vital evidence to build their defense on numerous fraud charges.\u00a0<\/p>\n

SBF has faced multiple charges since the collapse of FTX, which authorities insist was not an accident but a deliberate and fraudulent act. Since the crash, investigators have worked tirelessly on the case to unravel the true extent of damage to investors.<\/p>\n

SBF\u2019s Lawyers Send Letter To District Judge<\/h2>\n

Sam Bankman-Fried\u2019s lawyers sent a letter<\/a> to United States District Judge Lewis A. Kaplan.\u00a0In the letter, they stated that the government failed to release the entire contents of five electronic devices vital to the case.<\/p>\n

Related Reading: Bitcoin Slips Below $26,000, Triggers Over $300 Million In Liquidations<\/a><\/p>\n

According to this letter, a laptop and iPhone belonging to former Alameda Research CEO Caroline Ellison and a laptop belonging to FTX Co-founder Gary Wang were part of the devices.<\/p>\n

SBF\u2019s legal team noted that since the trial date was less than four months away, the late presentation of these documents would affect their preparation for the defense.\u00a0<\/p>\n

Additionally, the letter stated that the government had failed to produce any information on FTX debtors. The lawyers revealed that over 3.6 million documents were missing, which is a cause for concern for the defendants.\u00a0<\/p>\n

These documents include 2 million Google Search Warrant Documents and approximately 500,000 documents received in response to subpoenas and voluntary production requests.<\/p>\n

Also, there are documents containing the content of Caroline Elisson\u2019s laptop and two other laptops provided by two FTX software developers.\u00a0<\/p>\n

Additional documents containing correspondence on Telegram and Slack also make up these figures and are essential bits of evidence.<\/p>\n

Sam Bankman-Fried is set to appear in court on October 2, 2023, to face fraud charges and additional claims bordering on bribing the Chinese government and illegal donations<\/a>. So, his lawyers are pushing for these documents to prepare a strong defense.\u00a0<\/p>\n

FTX Bankers Seek To Cash Out On AI Shares<\/h2>\n

FTX bankers tasked with reviving the company\u2019s fortunes allegedly seek to cash in on shares in the Artificial Intelligence (AI) sector.\u00a0According to a report by Semanfor<\/a> on June 6, FTX holds a stake in an AI startup Anthropic, currently worth billions of dollars.<\/p>\n

A bank and part of FTX\u2019s revival team, Perella Weinberg, hinted at the sale of shares in Anthropic to investors. Anthropic created a rival to the ChatGPT, the Claude Chatbot, thus gaining massive share value.<\/p>\n

FTX allegedly owned $500 million worth of Anthropic stock before its bankruptcy. Now, the stake is expected to have increased to nine figures and will go to repaying former customers.<\/p>\n

Currently, the bankers are deliberating on a total or partial sale since they believe that AI value will keep rising as it is now a lucrative niche, and Anthropic created two years ago, has an estimated value of $4.6 billion.\n<\/p>\n

Featured image from Pixabay and chart from TradingView.com<\/p>\n

<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-25121","post","type-post","status-publish","format-standard","hentry","category-blockchain"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/25121","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/comments?post=25121"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/25121\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=25121"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=25121"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=25121"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}