The USA Departure of Justice has reportedly seized or was within the technique of seizing greater than $400 million price of Robinhood shares linked to FTX as a part of the case towards the crypto change.
In accordance with a Jan. 4 report from Reuters, U.S. officers informed a choose they have been within the technique of seizing property tied to FTX and its former CEO Sam Bankman-Fried, which included 56 million shares of Robinhood — price roughly $468 million on the time of publication. The report adopted a choose within the felony case towards SBF ordering 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 beneath competition as many traders and collectors look to be made complete. BlockFi, Bankman-Fried and FTX creditor Yonathan Ben Shimon have all staked claims to the property.
In federal courtroom on Jan. 3, Bankman-Fried pled not responsible to eight felony counts together with wire fraud, securities fraud and violations of marketing campaign finance legal guidelines. He additionally beforehand denied transferring funds from Alameda, saying he now 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 beneath home arrest at his mother or father’s residence in California since December however has been allowed to journey for accredited causes, together with displaying up for courtroom in New York. His trial date has been set for Oct. 2.
