US Prosecutors Seize $700M Tied to FTX
Federal prosecutors seized around $700 million in cash and other assets tied to the now-bankrupt crypto exchange FTX, CNBC reports, citing a court filing.
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The report notes that the majority of confiscated funds is Robinhood’s shares bought by Bankman-Fried using clients funds. The disgraced crypto entrepreneur denies misusage of customers assets.
Former FTX.US CEO: Sam Bankman-Fried Misled and Manipulated During Development of US Division
Federal prosecutors also seized accounts at Silvergate Bank holding over $6 million. They also confiscated around $20.7 million held by Emergent at ED&F Man Capital Markets, Inc, and almost $50 million at Farmington State Bank, saying that the seized assets “are not property of the bankruptcy estate.”
In early January, the US Department of Justice seized over 55.2 million Robinhood shares from FTX founder Sam Bankman-Fried.
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