U.S. Government seizes SBF’s Robinhood shares Zeynep Geylan · 6 seconds ago · 1 min read
FTX founder Sam Bankman-Fried’s Robinhood shares equate to $455 million.
1 min read
Updated: January 9, 2023 at 4:03 pm
Cover art/illustration via CryptoSlate
The U.S. Government officially seized FTX founder Sam Bankman-Fried‘s (SBF) Robinhood shares, which equates to $455 million, as reported by WatcherGuru.
SBF acquired 7.6% of Robinhood for $648.3 million on May 13, 2022. After the FTX crash on Jan. 4, the U.S. Department of Justice revealed that it would take control of Robinhood shares under dispute by all FTX-related parties.
Upon this news, FTX and Alameda Research attempted to secure their ownership of Robinhood shares by filing legal requests on Jan. 5, claiming that the bankrupt exchange has no “legal claims” over the assets in question.
Journalist at CryptoSlate
Zeynep is an academic who turned to crypto in 2018. Originating in social sciences, she is especially interested in the social impact of blockchain and cryptocurrencies and strongly believes in their transmuting power.
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