FTX founder Sam Bankman-Fried desires to retain management of Robinhood shares price $450 million on the premise that the bankrupt alternate has no “authorized claims” over the property, in line with a Jan. 5 court docket submitting.
SBF mentioned he and Gary Wang initially owned the shares. He added that the shares are usually not owned by Alameda Analysis or some other entity implicated within the FTX chapter.
In accordance with the court docket submitting, the FTX debtor’s argument that Alameda financed the shares’ buy below suspicious circumstances was false, as they have been memorialized in 4 promissory notes.
The SBF’s submitting added that it was “improper for the FTX Debtors to ask the Courtroom to easily assume that the whole lot Mr. Bankman-Fried ever touched is presumptively fraudulent.”
In a Dec. 22 submitting, FTX urged the court docket to freeze the Robinhood shares till they are often distributed amongst FTX collectors.
BlockFi agrees with SBF’s movement
In the meantime, bankrupt crypto lender BlockFi additionally argued towards FTX’s request to freeze the shares in a separate submitting on Jan. 5.
In accordance with the crypto lender, FTX doesn’t have the appropriate to the shares that have been pledged as collateral for a mortgage that Alameda secured from the crypto lender. The lender
Nonetheless, all events nonetheless need to deal with the US Division of Justice. The DOJ mentioned it will be seizing the shares as a part of its motion towards SBF. The DOJ counsel advised the court docket that they believed that the property didn’t belong to the chapter property.
