U.S. Government seizes SBF’s Robinhood shares
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U.S. Government seizes SBF’s Robinhood shares

FTX founder Sam Bankman-Fried's Robinhood shares equate to $455 million.  

Zeynep Geylan
By Zeynep Geylan
Journalist CryptoSlate
1 min read
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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.

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Mentioned in this article

Related Company FTX Cryptocurrency Derivatives Exchange Related Company Alameda Research Failed crypto quantitative trading firm Related Product Robinhood Stocks, ETFs, options, and cryptocurrencies investing platform Related Person Sam Bankman-Fried Former CEO & Founder · FTX
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Exchanges FTX logo FTX Bankruptcy

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Zeynep Geylan
Zeynep Geylan
Journalist 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…

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News Desk
News Desk
Editor CryptoSlate

CryptoSlate is a comprehensive and contextualized source for crypto news, insights, and data. Focusing on Bitcoin, macro, DeFi and AI.

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