As part of its investigation into the cryptocurrency exchange, the Department of Justice of the United States is said to have obtained ownership of more than $400 million worth of Robinhood shares that are tied to FTX, or to be in the process of obtaining ownership of such shares.
According to the report, this took place throughout the course of the inquiry into the bitcoin exchange.
On January 4, Reuters published an article claiming that United States officials had informed a judge that they were in the process of seizing assets related to FTX and its former CEO, Sam Bankman-Fried. The article also stated that the United States officials had informed a judge that they were in the process of seizing assets related to FTX.
According to the information provided in the report, the government of the United States was in the process of taking assets that were associated with FTX and its previous CEO.
These assets comprised around 56 million shares of Robinhood, which at the time the article was released had a value of approximately 468 million dollars’ worth of shares.
The report was made public only one day after a court in the criminal case against SBF ordered him to stop accessing or transferring any bitcoin or assets that originated from FTX or Alameda. The judge’s order was issued in connection with the case against SBF. The judge’s order was given in relation to the matter that was being heard.
During the procedures of FTX’s bankruptcy, ownership of the Robinhood shares has become a controversial issue as a direct consequence of the large number of investors and creditors who are fighting to get their money back in full.
BlockFi, Bankman-Fried, and Yonathan Ben Shimon, a creditor of FTX, have each independently presented their case for ownership of the assets, saying that they should be given precedence over the other parties.
Bankman-Fried was arraigned in front of a federal court on January 3, 2019, and pled not guilty to all eight of the criminal accusations that had been presented against her at that time.
Since the month of December, the individual who formerly held the position of Chief Executive Officer of FTX has been placed under house arrest at the location where his parents live in the state of California. The date of his trial, which is going to be on October 2nd, has already been decided upon.
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