US authorities seize $460 million in Robinhood shares linked to FTX

America Workplace of Justice has reportedly seized or was within the technique of seizing greater than $400 million in Robinhood shares linked to FTX as a part of the case in opposition to the cryptocurrency trade.

In response to a January 4 be aware from Reuters, US officers advised a decide they had been within the technique of seizing property linked to FTX and its former CEO, Sam Bankman-Fried, together with 56 million Robinhood shares, value about $468 million on the time. The information adopted a decide within the legal case in opposition to Bankman-Fried ordering him to not entry or switch any cryptocurrency or FTX or Alameda property.

Amid FTX’s chapter proceedings, management of Robinhood’s shares has been in dispute as many buyers and collectors search to get better. BlockFi, Bankman-Fried and FTX creditor Yonathan Ben Shimon have all claimed the property.

On January 3, in federal court docket, BAnkman-Fried has pleaded not responsible to eight legal prices 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 he stepped down as a prime govt in November.

The previous FTX CEO has been beneath home arrest at his mother and father’ California house since December, however has been allowed to journey for authorised causes, together with court docket look in New York. His trial date was set for October 2.

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