Cryptocurrency

SBF Desires to Hold Management of $450 Million Price of Robinhood Shares

Sam Bankman-Fried has requested the court docket to permit him to retain management over the 56 million shares that he owns in Robinhood.

  • The inventory is presently price round $450 million.
  • SBF’s attorneys argued that the shares have been purchased legitimately with funds that Wang and SBF borrowed from Alameda Analysis and that stated mortgage has been correctly documented.

It’s improper for the FTX Debtors to ask the Courtroom to easily assume that every part Mr. Bankman-Fried ever touched is presumptively fraudulent. – reads the submitting.

  • The doc additionally outlines that the shares are owned by Emergent – an entity that’s not implicated within the FTX chapter case, and its impartial acquisition of the shares has been “clearly set forth in an SEC submitting” made by FTX Normal Counsel.
  • CryptoPotato reported on January fifth that the US Division of Justice desires to grab the shares, 90% of that are owned by SBF and 10% by Gary Wang.
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