In the early hours today, the US Federal prosecutors seized nearly $700 million in cash and assets which are in connection with FTX founder Sam Bankman-Fried. As per the reports most of these assets were in the form of Robinhood shares held by SBF. Earlier in May Sam Bankman-Fried had claimed to have acquired a 7.6% stake in Robinhood.
As per the court filings made on Jan 20, federal investigations in the Southern District of New York have taken hold of FTX’s assets. Also the US prosecutor mentioned 10 accounts which have shares, cash and cryptocurrency.
Federal Prosecutors Seize $700M From SBF
Following the seizure of $700M from SBF, Dogecoin co-founder Billy Markus and Twitter head Elon Musk have taken this opportunity to criticize SBF and his stance. Billy Markus penned a sarcastic quote pointing towards SBF’s earlier claim where SBF had claimed to have left with only $100K.
In reply to Billy Markus’ post, Elon Musk was quick enough to comment with two ROFL emojis. Since the time FTX went into bankruptcy, Elon Musk and Billy Markus have been condemning SBF for misleading investors.
FTX filed its bankruptcy in November 2022 after SBF was charged with using USD that belonged to FTX customers. However, he pleaded not guilty to those charges and is currently under house arrest at his parents’ place. His next trial is scheduled for October, 2023. Earlier this week the federal prosecutors had seized $100 million from SBF’s Silvergate Bank which was linked to Bahamas FTX Digital Markets.