Almost $700 million seized from FTX founder Bankman-Fried

new York In the US, federal prosecutors seized almost $700 million in assets belonging to FTX founder Sam Bankman-Fried in January. A court document revealed on Friday (local time) that this value is largely made up of Robinhood shares. The US Department of Justice announced the seizure of Robinhood stock earlier this month and released a more complete list of the assets seized on Friday.

This includes cash held at various banks and assets deposited with the Binance crypto exchange. The confiscated Robinhood shares, worth about $525 million, were previously the subject of disputes between Bankman-Fried, FTX and bankrupt crypto lender BlockFi.

Bankman-Fried is accused of stealing billions of dollars from FTX clients to pay off the debt of his cryptocurrency-focused hedge fund. Now he has to answer before a New York court for fraud. The 30-year-old pleaded “not guilty” at a first hearing. His trial is scheduled for October.

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