Cryptocurrencies

Prosecutors Claim ‘Effective Altruism’ Falls Short in Bankman-Fried Case

In the fraud trial of Sam Bankman-Fried, prosecutors have requested that the judge inform the jury that the defendant’s claim of being an effective altruist should not be considered a valid defense. Bankman-Fried is facing allegations of misappropriating billions of dollars from FTX customers for personal use, including political contributions, real estate, and investments.

In a letter presented on Thursday, the prosecution pointed out that Bankman-Fried’s legal team argued he should not be charged with fraud because he intended to repay customers through the growth of FTX and profitable investments. The prosecution countered that this argument is irrelevant and does not exonerate him from the fraud charges.

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