U.S. authorities seize $460 million in FTX-linked Robinhood shares

Share your love

The U.S. Office of Justice has reportedly seized or was in the process of seizing more than $400 million in FTX-linked Robinhood shares as part of the case against the cryptocurrency exchange.

According to a Jan. 4 Reuters note, U.S. officials told a judge they were in the process of seizing assets linked to FTX and its former CEO, Sam Bankman-Fried, which included 56 million shares of Robinhood, worth approximately $468 million at the time. The news followed a judge in the criminal case against Bankman-Fried who ordered him not to access or transfer any cryptocurrency. or FTX or Alameda assets.

SBF borrowed $546 million from Alameda to finance Robinhood stock purchase
Amid FTX’s bankruptcy proceedings, control of Robinhood’s shares has been in dispute, as many investors and creditors seek to recover. BlockFi, Bankman-Fried and FTX creditor Yonathan Ben Shimon have claimed the assets.

Read Also   VIDEOS: A storm floods the New York subway and experts warn that "climate change is here"
Share your love

Leave a Reply

Your email address will not be published. Required fields are marked *