DOJ Seizes Banking Assets and Robinhood Shares Connected to FTX; Details of meetings and Biden officials revealed
Join Our Telegram channel to stay up to date on breaking news coverage Government officials have informed a virtual court hearing in Delaware that the U.S. Federal government has confiscated or is in the process of confiscating a number of assets that may be connected to the insolvent cryptocurrency corporation FTX, including a number of shares in trading app Robinhood . As Department of Justice investigations into former FTX CEO Sam Bankman-Fried and top employees Gary Wang and Carolyn Ellison continue, the assets may eventually be the subject of forfeiture proceedings. FTX, which declared bankruptcy on November 11, has asked a federal court to rule on the ownership of Robinhood shares valued at around $450 million. Between insolvent cryptocurrency lender BlockFi, Bankman-Fried, and FTX creditor Yonathan Ben Shimon, ownership of the shares is in dispute. According to Department of Justice counsel Seth Shapiro, one of the requests was “connected to Robinhood shares, w...