United States asserts ownership of $700 million in assets linked to Bankman-Fried and FTX

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The US government wants to seize nearly $700 million in assets seized earlier this month from former FTX CEO Sam Bankman-Fried.

Over 55 million Robinhood shares worth approximately $525 million are included in the property. Those shares, purchased with borrowed Alameda funds, were at the centre of a battle between Bankman-Fried, FTX Group, and BlockFi. Officials are also attempting to seize $171 million in cash from a series of bank accounts linked to Bankman-web Fried’s of businesses. According to a bill of particulars filed late Friday in Bankman-criminal Fried’s case, the government seized those assets and others in early January and is now seeking their forfeiture.

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United States asserts ownership of $700 million in assets linked to Bankman-Fried and FTX

The US government wants to seize nearly $700 million in assets seized earlier this month from former FTX CEO Sam Bankman-Fried.

Over 55 million Robinhood shares worth approximately $525 million are included in the property. Those shares, purchased with borrowed Alameda funds, were at the centre of a battle between Bankman-Fried, FTX Group, and BlockFi. Officials are also attempting to seize $171 million in cash from a series of bank accounts linked to Bankman-web Fried’s of businesses. According to a bill of particulars filed late Friday in Bankman-criminal Fried’s case, the government seized those assets and others in early January and is now seeking their forfeiture.

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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