Sam Bankman-Fried (SBF) Robinhood (HOOD) shares FTX, Alemeda research and BlockFi revealed the truth about the credit triangle.
FTX founder Sam Bankman-Fried made remarkable statements in his sworn statement to the court. SBF, HOOD FTX’s sister company to buy the stock Alameda Researchfrom $546 million admitted that he had financed it. The interesting part of this financing agreement emerged after the statement of SBF.
According to the sworn statement of SBF, these shares, purchased with a financing of 546 million dollars, are owned by Alameda. BlockFiIt was shown as collateral for borrowing from . The aforementioned HOOD shares are registered to SBF. Emergent Fidelity Technologies was taken over by the company.
According to the documents that emerged, Alameda paid the $546 million loan to Garry Wang, another co-founder of SBF and FTX, in 4 installments. First on April 30 316.6 million dollars and Two loans of $35.1 million then on May 15 75 million and Two loans of $19.4 million more given.
The emergence of the said loan exchange is currently approximately 430 million dollars worthwhile 56 million HOOD further complicated the ongoing legal process for its stock. Struggling with the liquidity crisis, BlockFi sued SBF, the founder of FTX, and his investment company, which went bankrupt on the grounds that it did not give the Robinhood shares it had committed at the end of November. case had opened.
In the new application made to the court recently, the creditors of both SBF, BlockFi and FTX for the HOOD shares in question. Yonathan Ben Shimon had claimed. FTX lawyers, on the other hand, opposed this claim and said “Until FTX figures out how to repay all its creditorsHe argued that the said shares should continue to be frozen.