The latest news revealed that the former CEO of the collapsed FTX exchange, Sam Bankman-Fried expressed displeasure over the late arrival of crucial evidence from his criminal trial. Meanwhile, FTX reportedly plans to sell some stocks in an Artificial Intelligence firm.
According to the report, the legal representatives of Bankman-Fried recently claimed that the prosecutors exceeded the allotted time to discover and present valid evidence required to judge the defendant in the ongoing fraud-allegation case against SBF.
While addressing Judge Lewis A. Kaplan, who presides over the case, SBF’s attorneys wrote a letter containing their complaints. They claimed in the letter that the prosecutors are yet to reveal the content of the five technology gadgets confiscated from SBF.
Additionally, they pointed out that the prosecutors had long outstayed the 5th of May, which the court gave them to discover the contents on the mobile devices, which included a laptop and a mobile phone that was seized from the ex-CEO of the troubled FTX.
In addition, the authorities also seized a laptop and an iPhone from Caroline Ellison, the CEO of Alameda Research. The first item was a laptop confiscated from Gary Wang, a co-founder of SBF.
SBF’s Attorney Express Their Displeasure Over New Round Of Evidence
In the letter, SBF’s lawyers highlighted that the trial date scheduled by the US district court presiding over the case is fast approaching. With only four months away, they argued that the voluminous evidence the prosecutors uncovered would distort the preparation for the defense.
According to the report, SBF was scheduled to face trials on a string of fraudulent charges on October 2, 2023. The defendant was reportedly okay with the arrangement and had no intention of adjournment as he feared the prosecutors digging out more shreds of evidence.
Also, in the letter, he revealed that there might be some discoveries in the new pile of evidence that may warrant the prosecutors to file for additional motions.
In addition, the letter stated that the evidence backing the allegations against FTX debtors is yet to be presented before the court by the prosecutors. It also highlighted that the new evidence is too voluminous that it messes with the preparations of the defense attorneys.
Specifically, the letter pointed out that the voluminous production has over 3.6 million files and about 10 million pages in total. The first four have about 1.1 million files, while the fifth sent to the defense team has almost 2.5 million, three times more than the documents already on the ground.
Experts Suggested FTX Sell Its Shares In Anthropic
On the other hand, the financial firms saddled with stabilizing the troubled FTX continue to strive to recover its lost funds. Recently, they proposed selling the firm’s shares in a tech firm that deals in the artificial intelligence sector.
According to reports, an investment banking company among the group, Perella Weinberg, suggested that the shares the bankrupt FTX exchange has in Anthropic, an AI firm, should be sold to interested investors.
The shares are reportedly worth hundreds of millions of United States dollars. At the time of bankruptcy in November 2022, FTX’s balance sheet revealed that the firm held stock in Anthropic firm worth about $500 million.
However, in the current wave of AI adoption, the stock is expected to have added more value. Meanwhile, Anthropic reportedly realized about $450 million in a recent Series C funding rally it executed. In addition, the firm reportedly has a net worth of about $4.6 billion.