US authorities are seizing $460M in Robinhood shares tied to FTX: Report


The US Departure of Justice has reportedly seized or was within the means of seizing greater than $400 million price of Robinhood shares linked to FTX as a part of the case towards the crypto alternate.

In line with a Jan. 4 report from Reuters, U.S. officers told a choose they had been within the means of seizing belongings 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 comes a day after a choose within the prison case towards SBF orderedyu7po him not to access or switch any cryptocurrency or belongings from FTX or Alameda.

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Amid FTX’s chapter proceedings, management of the Robinhood shares has been beneath rivalry as many traders and collectors look to be made entire. BlockFi, Bankman-Fried and FTX creditor Yonathan Ben Shimon have all staked claims to the belongings.

In federal court docket on Jan. 3, Bankman-Fried pleaded not responsible to eight prison counts, together with wire fraud, securities fraud and violations of marketing campaign finance legal guidelines. He additionally beforehand denied moving funds from Alameda, saying he not had entry to the wallets since stepping down as CEO in November.

Associated: The outcome of SBF’s prosecution could determine how the IRS treats your FTX losses

The previous FTX CEO has been beneath home arrest at his mum or dad’s residence in California since December however has been allowed to journey for accredited causes, together with exhibiting up for court docket in New York. His trial date has been set for Oct. 2.