Quick Facts
- A bulk of the assets are shares held with Robinhood Markets.
- Also listed are unspecified amounts in rival exchange Binance.
The US District Court Southern District of New York published a list of assets Friday linked to the former CEO and co-founder of FTX Sam Bankman Fried that have been earmarked for forfeiture, including shares, bank account balances, and cryptocurrencies held in other exchanges.
Mainly, 55,273,469 shares in Robinhood worth about $526 million, allegedly bought by SBF with stolen funds, make up the bulk of the seized funds. The shares – acquired through Emergent Fidelity Technologies, a shell company created by SBF and his business partner Gary Wang – were recently at the centre of a tussle between Bankman-Fried, FTX Group, and BlockFi.
See Related: United States DOJ Seizes Over 55M Robinhood Shares And US$22M In Relation To SBF And FTX
Also in the document submitted by the US Attorney Damian Williams is $20.7 million held at ED&F Man Capital Markets and an estimated $50 million at Farmington State Bank. There is also an amount worth $5 million at Silvergate Bank under FTX Digital Markets.
Part Of The Assets Seized Are Cryptos Held With The Binance Exchange
The filing has also listed unspecified amounts in rival crypto exchange Binance and its subsidiary Binance US. Before the event leading to the FTX collapse, Binance had disclosed a rescue plan to help the bankrupt business, which never came through.
See Related: From Bad To Good To Worse: The Binance And FTX Saga
The government seized all the listed assets at the start of the month, and has not been classified as property in the bankruptcy estate. It means that the property is exempted from being frozen like the rest of FTX assets, which are pending liquidation, said sources privy to the matter.
