Cointime

Cointime

Download App
iOS & Android
Home / Policy

Sam Bankman-Fried's Defense Team Seeks to Question Caroline Ellison on Legal Counsel Dependence and FTX's Anthropic AI Stake Valuation

Sam Bankman-Fried's defense team has filed motions to question Caroline Ellison about her reliance on legal counsel while CEO of Alameda Research and the valuation of FTX's stake in Anthropic AI. Ellison is the star witness in the criminal fraud case against Bankman-Fried, and the defense wants to address the "advice-of-counsel" argument.

The defense also wants to question Ellison about her knowledge of FTX and Alameda lawyers' role in setting policies, such as activating auto-deletion tools on the messaging app Signal. The Department of Justice has opposed the defense's attempt to raise the topic of the current valuation of FTX investments, stating that it is immaterial to the case. The defense argues that the Anthropic news is important context about FTX's expected value analysis, and they should be able to ask broader questions about FTX's portfolio.

SBF FTX Caroline Ellison
Comments

All Comments

Recommended for you

  • Chinese Police Dismantle $1.9B Smuggling Ring Using USDT Stablecoin

    Chinese police have dismantled a large-scale underground banking scheme involved in smuggling operations valued at $1.9 billion. The illicit network used Tether's stablecoin USDT to facilitate the smuggling of pharmaceuticals, cosmetics, and the purchase of prohibited goods overseas. The crackdown coincides with China's nationwide observance of "May 15" Publicity Day for Combating and Preventing Economic Crimes. Police have arrested 193 suspects nationwide, including ring leaders Lin, Weng, Chen, and other unnamed individuals.

  • Philippines central bank approves peso stablecoin pilot

    The Philippines central bank has authorized Coins.ph to initiate a pilot program for a new Philippine Peso-backed stablecoin, PHPC, under its Regulatory Sandbox Framework. This pilot aims to integrate PHPC into significant remittance channels to enhance the efficiency of transactions within the substantial Philippine remittance market. Coins.ph plans to launch the stablecoin by early June, following comprehensive real-world application testing to potentially achieve full regulatory approval.

  • ECB Governing Council: We are likely to start cutting interest rates in June

    ECB committee member Villeroy stated that it is very likely that we will begin cutting interest rates in June.

  • Former FTX executive Ryan Salame asks court for leniency, sentences him to 18 months in prison

    According to a sentencing memorandum submitted on Tuesday, former FTX executive Ryan Salame pleaded guilty in September of last year to conspiring to make illegal political contributions and conspiring to operate an unlicensed money transmission business. His lawyer requested leniency from the court and for him to serve an 18-month sentence. While working at FTX and Alameda, Salame managed wire deposits and fiat currency exchanges for FTX clients, used Alameda funds to make political contributions, and led charity efforts in the Bahamas.

  • Hong Kong police arrested a 1 million USDT fraud gang and seized 3,000 ghost coins

    According to a report from Sing Tao Daily, Hong Kong police received a report from a 35-year-old man on April 12th, claiming that he was unable to recover cash after reselling approximately 1 million yuan worth of virtual currency USDT in a shop in Tsim Sha Tsui and suspected that he had been deceived.After an investigation by the Technology and Wealth Crime Group of the Yau Tsim Police District, the police launched an operation in multiple areas of Hong Kong on May 13th and arrested three local men aged between 31 and 34 years old, who were suspected of obtaining property by deception.The police found 3,000 fake banknotes, a money clip and a counting machine in the shop. The investigation showed that the arrested men showed the victim fake banknotes and asked him to transfer virtual currency to a designated wallet, and then refused to hand over the cash for various reasons, resulting in the victim losing approximately 1 million yuan worth of virtual currency.

  • El Salvador Launches Bitcoin-Based Financing for New Airport Hotel

    El Salvador has launched the announcement of Bitcoin financing for the vacation hotel at San Salvador International Airport, with a target financing goal of $6.25 million. The funds will be used to build a five-story facility covering 4,484 square meters, with 80 guest rooms, commercial space, swimming pool, and other facilities. The hotel is located inside the airport, making it the only hotel service provider in the area. The minimum investment amount for this investment opportunity is $1,000, with 6,250 tokens available for selection, each token paying a 10% annual yield every six months. The project is supervised by Inversiones Laguardia SA de CV and promoted through Bitfinex Securities.

  • A bill protecting Bitcoin rights has been signed into law in Oklahoma

    A bill protecting basic Bitcoin rights has been signed into law in Oklahoma. Oklahoma will now defend the rights to self-custody, consume Bitcoin and digital assets, and operate nodes for mining Bitcoin. It will also prohibit additional taxation when Bitcoin and digital assets are used as a payment method.

  • Tornado Cash developer's 64-month sentence unlikely to impact Roman Storm's US case

    The Dutch court has ruled that Pertsev, a 31-year-old, laundered $1.2 billion through Tornado Cash. A panel of three judges sentenced Pertsev to five years and four months in prison. The court stated in its final conclusion, "The court believes that legally and factually, the suspect, together with others, laundered Ethereum obtained through criminal means, and he has become accustomed to this money laundering behavior." Meanwhile, Tornado Cash co-founder Roman Storm's trial in the United States began on September 23. Last year, US prosecutors charged Storm and co-founder Roman Semenov with conspiracy to launder money, conspiracy to violate sanctions, and conspiracy to operate an unlicensed money transmission business. Semenov remains at large at the time of the indictment.

  • Tornado Cash Developer Alexey Pertsev Sentenced to 64 Months in Prison

    On Tuesday, a Dutch judge ruled that Tornado Cash developer Alexey Pertsev was guilty of money laundering. The court sentenced Pertsev to 64 months in prison. In August 2022, Tornado Cash was blacklisted by the US government, and this is the first time the developer has been sentenced to prison in the Netherlands. At the time, the US Treasury Department claimed that Tornado Cash was a key tool for the North Korean hacker group Lazarus. The Lazarus group is linked to the $625 million hack of Axie Infinity's Ronin Network and other major cryptocurrency thefts.

  • SBF ordered to forfeit more than $11 billion

    SBF has been ordered to confiscate more than 11 billion US dollars. SBF has now been sentenced to 25 years in prison.

Daily Must-Read

Popular Activities

Delysium $AGI & AI Private Yacht Party

Delysium $AGI & AI Private Yacht Party

March 27 - March 27
Seoul

Popular Tags

Cointime
News
Contents
RSS
Company