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The United States Departure of Justice has reportedly seized or was in the process of seizing more than $400 million worth of Robinhood shares linked to FTX as part of the case against the crypto exchange.According to a Jan. 4 report from Reuters, U.S. officials told a judge they were
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Officials may later seek to have Sam Bankman-Fried forfeit the assets, potentially including as much as $450 million in stocks, to avoid benefiting from crimes Source
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The highly disputed Robinhood shares claimed by both BlockFi and FTX might be transferred to a neutral broker or an escrow account while the courts determine the rightful owner.Digital asset lender BlockFi recently sued former FTX CEO Sam Bankman-Fried to claim the shares that were supposedly pledged as collateral for
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As per court documents, SBF and FTX co-founder Gary Wang took $546 million from Alameda Research to purchase the stock of Robinhood Markets.As the case against disgraced FTX founder Sam Bankman-Fried proceeds, new developments have come to the surface. As per the recent court documents, FTX chief Sam Bankman-Fried together
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Sam Bankman-Fried, the disgraced founder of cryptocurrency exchange FTX, borrowed over $546 million from the exchange’s sister firm Alameda Research to fund his purchase of Robinhood shares.Those same shares were later used by Bankman-Fried as collateral for a loan taken by Alameda from BlockFi, one of the entities that are
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Crypto lender BlockFi, which also filed for bankruptcy, alleged in a court document that it was owed the rights to the Robinhood shares due to a deal Bankman-Fried made in early November. The shares were pledged as collateral against a loan taken out by Alameda Research – the same firm
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Court filings show that debtors from FTX Trading Ltd. and Alameda Research want 56 million shares of Robinhood stock frozen after multiple creditors are seeking access to the funds, and also Sam Bankman-Fried (SBF). Court Filing Wants to ‘Enforce an Automatic Stay’ Against Claims Over FTX’s 56 Million Robinhood Shares On Dec.
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Embattled crypto exchange FTX asked for the assistance of a United States bankruptcy judge to prevent crypto lending firm BlockFi from claiming around $450 million worth of Robinhood shares purchased by its former CEO Sam Bankman-Fried. On Nov. 28, BlockFi filed a lawsuit demanding Emergent Fidelity Technologies, Bankman-Fried's holding company, to
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Three parties, the filing says, have tried to get control of those shares: BlockFi (a lender that FTX had helped prop up earlier this year), Yonathan Ben Shimon (an FTX creditor appointed as a receiver in Antigua and granted permission to sell the shares under supervision of a court there)
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Newly-bankrupt crypto lending platform BlockFi has filed a lawsuit against Sam Bankman-Fried’s holding company Emergent Fidelity Technologies seeking his shares in Robinhood that were pledged as collateral earlier in November.The suit was filed on Nov. 28 in the United States Bankruptcy Court for the District of New Jersey just hours
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