The US government is reportedly planning to seize over $400M worth of Robinhood shares linked to FTX. But is there more where that came from?
The United States Departure of Justice has reportedly seized or was in the process of seizing more than $400 million worth of Robinhood shares linked to FTX as part of the case against the crypto exchange.a judge they were in the process of seizing assets tied to FTX and its former CEO Sam Bankman-Fried, which included 56 million shares of Robinhood — worth roughly $468 million at the time of publication.
The report followed a judge in the criminal case against SBFAmid FTX’s bankruptcy proceedings, control of the Robinhood shares has been under contention as many investors and creditors look to be made whole. BlockFi, Bankman-Fried and FTX creditor Yonathan Ben Shimon haveIn federal court on Jan. 3, Bankman-Fried pled not guilty to eight criminal counts including wire fraud, securities fraud and violations of campaign finance laws.
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