U. S. has found and seized 400 million more assets belonging to FTX
2023.01.05 08:55
U. S. has found and seized 400 million more assets belonging to FTX
Budrigannews.com – As part of the case against the cryptocurrency exchange, it is said that the United States Department of Justice has either already seized or is about to seize shares of Robinhood linked to FTX worth more than $400 million.
U.S. authorities told a judge on January 4 that they were in the process of seizing assets connected to FTX and its former CEO, Sam Bankman-Fried. These assets included 56 million shares of Robinhood, which were worth approximately $468 million at the time of publication. The report comes a day after a judge in SBF’s criminal case told him not to access or transfer any assets or cryptocurrency from FTX or Alameda.
Control of the Robinhood shares has been in dispute during FTX’s bankruptcy proceedings as numerous investors and creditors seek to be compensated. The assets have been claimed by BlockFi, Bankman-Fried, and FTX creditor Yonathan Ben Shimon.
On January 3, Bankman-Fried entered a not guilty plea in federal court to eight charges of fraud, including fraud involving securities, wire fraud, and violating campaign finance laws. Additionally, he claimed that he no longer had access to the wallets since stepping down as CEO in November, which led him to deny moving funds from Alameda.
Since December, the former CEO of FTX has been under house arrest at his parents’ house in California. However, he has been permitted to travel for authorized reasons, such as to attend court in New York. His trial has been scheduled for October 2.
More New details on the FTX case
