Best Crypto to Buy Now October 9 – Toncoin, Quant, Maker
Federal prosecutors dealing with the fraud case against Sam Bankman-Fried are pushing to bar any mention of the defendant's hefty investment in artificial intelligence firm Anthropic during trial proceedings, according to court filings on October 8.
As the courtroom drama surrounding Sam Bankman-Fried continues to unfold, what is the best crypto to buy now?
Prosecutors argue that Bankman-Fried's $500 million funding of Anthropic, now engaged with Amazon in a multi-billion dollar venture, should hold no bearing on the wire fraud accusations against him.
Though Anthropic is currently valued at up to $30 billion, the prosecution says this valuation does not relate to allegations that the former FTX CEO misused customer funds.
Introducing evidence related to Anthropic's lucrative business deals could force the trial into a lengthy examination of available assets to repay FTX creditors and customers, prosecutors claim.
They contend the focus should remain on compensating FTX users directly harmed by alleged fraud. The legal fight comes shortly after Samuel Reed and Gary Wang, former FTX executives, confessed to various fraud charges connected to their activities with Bankman-Fried.
Their testimony exposed that FTX's claimed insurance fund in 2021 was a complete sham, lacking any of the promoted assets. Wang and former Alameda Research CEO Caroline Ellison are slated to appear in court again soon, thrusting the already high-profile case further into the public eye.
Experts view the trial as a bellwether for accountability and oversight in the thinly regulated crypto industry. While the sector has seen tremendous growth, cases like FTX demonstrate the severe consequences of abuse and poor safeguarding of customer funds.
The outcome of
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