FTX Founder Sue SBF For Robinhood Shares From Bankrupt BlockFi

Crypto loan platform BlockFi, which has filed for bankruptcy, has sued Sam Bankman-Fried (SBF) and his investment firm, the founder of FTX, which went bankrupt for failing to deliver the RobinHood (HOOD) shares it had committed.

BlockFi, which filed for bankruptcy, blamed FTX and Alameda as the reason for bankruptcy, according to the Financial Times (FT) report. According to the court minutes released on Nov. 28, BlockFi gave it to Alameda. 680 million dollar loan shown as a guarantee RobinHood (HOOD) FTX founder SBF and his investment firm to transfer his shares To Emergent Fidelity Technologies sued.

Although it is not clear in the court minutes how much of the borrower and the collateral are, in the news, the debtor is Alameda and the aforementioned shares are approximately 7.6% owned by Sam Bankman-Fried in Robinhood. HOOD alleged shares. The company was transferred by SBF to BlockFi of the related shares. given as a guarantee and suggested that SBF owed money to the company. In addition, BlockFi added ED&F Man Capital Markets, which brokered the deal, to the lawsuit as it did not transfer the shares.

In the minutes, BlockFi’s investment firm Sam Bankman-Fried on Nov. Emergent Fidelity Technologies and an unnamed debtor declared that he had made an agreement to guarantee his obligations. On the other hand, in the minutes of the company, as a guarantee in the agreement made. common stock of a company stated that he agreed.

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