FTX, the bankrupt cryptocurrency exchange, is seeking information related to payments it made to the nonprofit organization Center for Artificial Intelligence Security (CAIS). According to a bankruptcy court filing on October 25, FTX wants to investigate the $6.5 million it donated to CAIS between May and September 2022, several months prior to FTX's collapse and bankruptcy declaration.
FTX is aiming to secure a Delaware Bankruptcy Court judge's approval to issue a subpoena to CAIS, allowing it to inquire about any payments, communications, agreements, or contracts between the two entities, as well as with FTX's affiliates and former executives. The exchange noted that CAIS had rejected a voluntary request for accounting related to these transfers, despite a phone call between the two companies in August and an email sent in early October.
CAIS has not responded to requests for comment on the matter. FTX's request for an investigation into CAIS is likely part of its broader efforts to recover funds for repaying creditors and customers following its bankruptcy declaration in November 2022. FTX reported in June that it had retrieved approximately $7 billion but still needed an additional $1.7 billion to reimburse client funds it alleged were misappropriated.
CAIS is known for a notable public statement it issued in May, highlighting the risks associated with artificial intelligence. The statement emphasized the importance of addressing the potential existential risks posed by AI, alongside concerns such as nuclear war. Prominent figures, including OpenAI CEO Sam Altman and AI pioneer Geoffrey Hinton, signed the statement.
FTX's proposed subpoena outlines the specific information it seeks from CAIS, including transfers, documents, and communications related to payments made by FTX, FTX Philanthropies, the FTX Foundation, the FTX Future Fund, and any officers, directors, contractors, or employees associated with FTX. It also requests communications involving key individuals such as co-founders Sam Bankman-Fried and Gary Wang, Joseph Bankman, Gabriel Bankman-Fried, Caroline Ellison, and former FTX attorneys Can Sun and Daniel Friedberg, among others.
