Federal authorities in the United States have seized $697 million in assets belonging to Sam Bankman-Fried, the founder of the defunct cryptocurrency exchange FTX. According to CNBC, FTX Digital Markets had three accounts with Silvergate Bank totaling more than $6 million. This platform’s assets were confiscated around January 11, 2023.
Furthermore, the authorities seized nearly $50 million from Moonstone Bank, which had ties to the FTX management. Binance’s worldwide platform and Binance.US, the global exchange’s American subsidiary, were also raided for assets. The prosecution was able to seize three SBF accounts. The sum confiscated, however, was not disclosed by the authorities.
According to the research, Sam Bankman-Fried owned the majority of the 55 million Robinhood shares. The Department of Justice seized almost $500 million worth of shares at the start of the year. BlockFi, FTX’s bankruptcy trustee, and Antigua’s liquidators have all made claims on the shares.
And, in a recent blog post, Bankman-Fried said that he has “offered to contribute nearly all of my personal shares in Robinhood to clients.” The shares were purchased on the financial platform in May 2022, giving SBF a 7.8% ownership stake in the company. He was also the majority owner and sole director of Emergent Fidelity Technologies’ shareholding.
According to reports, these shares were purchased with funds borrowed from Alameda, FTX’s investment arm. Furthermore, these same shares were held as collateral for Alameda’s BlockFi loan, establishing the basis for BlockFi’s claims on the shares.
Following that, an Insider article indicated that the two unknown individuals put up approximately $700,000 on bond for SBF’s bail. One person contributed $500,000, while another contributed $200,000. The court deleted the names of these individuals when SBF’s lawyers expressed worries about their safety.
SBF made the plea after claiming that his parents had received threats of physical harm following the collapse of the crypto exchange. The former businessman was granted bail on a $250 million bond with various stipulations.
