The US has frozen up to 700 million USD of assets of Sam Bankman-Fried

US officials confirmed that they have frozen up to $ 700 million of the assets of former FTX CEO Sam Bankman-Fried and are trying to gain control of this money.

The US has frozen up to 700 million USD of assets of Sam Bankman-Fried

According to documents filed in a US court on January 20, the attorney representing the US government in the case against former FTX CEO Sam Bankman-Fried said that federal authorities have frozen $ 697 million in assets. belongs to this character.

Specifically, the assets disclosed in court include 55 million Robinhood shares, worth about $526 million today, and $171 million in cash in the network of companies controlled by Sam Bankman. -Fried, including: $6 million at Silvergate Bank, $50 million at Moonstone Bank, undisclosed amounts in one Binance.US account and two Binance accounts.

The lawyers want the court to allow the US government to confiscate all of the above assets on the grounds that they are evidence of a fraud and fraud investigation against the former CEO of FTX, not bankruptcy assets. assets and must be handed over to the FTX exchange.

As reported by Kyptos, the above 55 million Robinhood shares are subject to dispute by 4 parties, including:

– Mr. Sam Bankman-Fried, who claims to need these shares because it is a personal property purchased by this person and is needed at the present time to serve the upcoming legal battle.

– FTX Exchange, which believes that Mr. Sam Bankman-Fried used FTX user assets to buy shares.

– Lending company BlockFi, which said that Sam Bankman-Fried used these shares as collateral for a loan at BlockFi and is now bankrupt when he does not receive the mortgage.

– Emergent Fidelity Technologies, a subsidiary created by Sam Bankman-Fried to carry out the share purchase.

The reason everyone wants to own this stock is because it is the only highly liquid asset that FTX/Alameda holds, which can be easily converted to cash.

After FTX went bankrupt and was forced to resign as CEO, Sam Bankman-Fried claimed he had only about 100,000 USD left in his bank account – a meager number compared to his huge fortune of 28 billion USD at the time. the peak of FTX.

Synthetic Kyptos

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