Key Points:
Over 55 million Robinhood shares totaling $526 million are part of the property. These shares, purchased with Alameda money borrowed, were the subject of a dispute between Bankman-Fried, FTX Group, and BlockFi.
The company that held them was Emergent Fidelity Technologies, which Bankman-Fried and FTX co-founder Gary Wang established as a front. Additionally, authorities are attempting to seize $171 million in cash from many bank accounts connected to Bankman-Fried’s network of companies.
The majority of the value comes from a stack of shares that Bankman-Fried reportedly bought with money taken from FTX customers while using the stock and cryptocurrency trading software Robinhood.
Additionally, assets worth over $6 million were confiscated from accounts at Silvergate Bank by prosecutors, and another $50 million was stolen from a Moonstone Bank account. According to court documents, funds were seized from accounts on Binance and Binance.US, CNBC first reported.
Three accounts are listed in the court documents at the competing cryptocurrency exchange Binance and its Binance.US subsidiary. The assets contained in those accounts, however, were not valued.
According to a bill of particulars submitted late Friday in the criminal case against Bankman-Fried, the government confiscated all of these assets and others in early January and is now requesting their forfeiture.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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Harold
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