America Departure of Justice has reportedly seized or was within the strategy of seizing greater than $400 million value of Robinhood shares linked to FTX as a part of the case towards the crypto change.
In response to a Jan. 4 report from Reuters, U.S. officers told a choose they had been within the strategy of seizing property tied to FTX and its former CEO, Sam Bankman-Fried, which included 56 million shares of Robinhood — value roughly $468 million on the time of publication. The report comes a day after a choose within the legal case towards SBF ordered 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 courtroom on Jan. 3, Bankman-Fried pleaded 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 end 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 mum or dad’s house in California since December however has been allowed to journey for accepted causes, together with exhibiting up for courtroom in New York. His trial date has been set for Oct. 2.
