US authorities are seizing $460M in Robinhood shares tied to FTX: Report


America Departure of Justice has reportedly seized or was within the means of seizing greater than $400 million price of Robinhood shares linked to FTX as a part of the case in opposition to the crypto change.

In keeping with a Jan. 4 report from Reuters, U.S. officers informed a choose they had been within the means of seizing property tied to FTX and its former CEO Sam Bankman-Fried, which included 56 million shares of Robinhood — price roughly $468 million on the time of publication. The report adopted a choose within the legal case in opposition to SBF ordering him to not entry or switch any cryptocurrency or property from FTX or Alameda.

Amid FTX’s chapter proceedings, management of the Robinhood shares has been below competition as many buyers and collectors look to be made entire. BlockFi, Bankman-Fried and FTX creditor Yonathan Ben Shimon have all staked claims to the property.

In federal court docket on Jan. 3, Bankman-Fried pled not responsible to eight legal counts together with wire fraud, securities fraud and violations of marketing campaign finance legal guidelines. He additionally beforehand denied shifting funds from Alameda, saying he not had entry to the wallets since stepping down as CEO in November.

Associated: The result of SBF’s prosecution may decide how the IRS treats your FTX losses

The previous FTX CEO has been below home arrest at his dad or mum’s residence in California since December however has been allowed to journey for accepted causes, together with displaying up for court docket in New York. His trial date has been set for Oct. 2.


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