China News Official TheBitTimes.com

Sam Bankman-Fried’s legal team penned a letter to Judge Kaplan, urging the court to permit the introduction of evidence regarding their investment in Anthropic, an artificial intelligence (AI) startup, made back in April 2022. This motion, dated October 10, was in response to United States prosecutors’ request on October 9, which aimed to prevent SBF’s defense from discussing the recovery of FTX customer funds through their involvement with Anthropic. Bankman-Fried, commonly known as “ SBF ,” initiated a substantial $500 million investment into Anthropic in April 2022, just before the collapse of the exchange. The U.S. Department of Justice (DOJ) is prepared to present evidence suggesting that this investment was funded using fraudulent customer deposits. Nevertheless, the legal representatives argue that the government’s stance misrepresents the relevance of this evidence . They respectfully request ed the court to deny the government’s mot...

The move comes just one day after the crypto executive's arrest on Dec. 12. According to local sources, on Dec. 13, crypto executive Sam Bankman-Fried's (SBF) lawyers have request ed bail in a Bahamas' Magistrate Court after his arrest on Dec. 12 pending extradition request by U.S. authorities. The move comes after presiding judge Chief Magistrate JoyAnn Ferguson-Pratt stated earlier today that SBF had the right to request bail. In supporting the application, the defense counsel for SBF argued that the 30-year-old crypto executive suffered from "depression" and "insomnia," does not possess a criminal record, and did not flee the Bahamas despite "ample opportunity" to do so. Counsel representing SBF also claimed that their client hasn't been taking medications, including "Adderall" and "anti-depressants" since his arrest. Lawyers also said that SBF doesn't object to electronic monitoring or reporting to a local...