The U.S. authorities have announced the seizure of assets worth nearly $700 million which are linked to the former CEO of the bankrupt FTX exchange.
As per the filing, the assets belong to FTX exchange or disgraced Sam Bankman-Fried.
Of the assets, a significant portion of it was from the Robinhood shares worth $525 million purchased by the former CEO of FTX exchange Bankman-Fried which he purchased using borrowed Alameda funds, although the shares have been causing face-offs between lending firm BlockFi, FTX Group.
In addition to the Robinhood shares, other funds seized by the US authorities are; $20.7 million held by Emergent at ED&F Man Capital Markets, Inc, and another $49.9 million at Farmington State Bank, held under FTX Digital Markets. Also in the last 10 days, more than $100 million of FTX funds held in Silvergate Bank have been seized.
The court filing also includes assets held in three accounts of FTX’s rival exchange Binance and its US subsidiary, although the worth of the assets was not stated.
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