• Press Releases
    • Submit a press release
    • Read All
  • Contact us
Advertise
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Breaking News: Bitcoin Price Makes History By Crossing $126,000: Options Market Forecasts Next Price Targets
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Bitcoinist.com
No Result
View All Result
Breaking News: Bitcoin Price Makes History By Crossing $126,000: Options Market Forecasts Next Price Targets
FTX

FTX Linked Robinhood Shares Worth $460 Million To Be Seized By U.S. Justice Department

Christian Encila
by Christian Encila
2 years ago
·
Posted in Crypto News
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

The United States Department of Justice is now stepping in to take control of matters in the ongoing brouhaha involving the now-defunct crypto exchange FTX and other parties.

The DOJ is now working on a plan to seize Robinhood Markets shares related with Sam Bankman-Fried, who was the founder and former chief executive officer of FTX.

These shares in contention are valued at around $465 million.

FTX creditors have launched judicial actions in an attempt to recover the shares. DOJ attorney Seth B. Shapiro stated that a court hearing will be scheduled to decide the disposition of the seized Robinhood shares and bank account assets.

The allegations that Bankman-Fried cheated consumers and investors have been officially refuted by him.

Related Reading: Can Bitcoin ‘Detect’ Stupid People? This Book Author And Math Statistician Says Yes, It Can

FTX: Fraud Of Epic Proportions

He was accused of running a “fraud of epic proportions” at FTX for years, pocketing customer deposits to use for things like his other company, Alameda Research, real estate purchases, and political contributions.

He pleaded not guilty on Tuesday in a New York Federal Court.

Sam Bankman-Fried departs from court in New York on Dec. 22. Image: Stephanie Keith/Bloomberg via Getty Images

According to Reuters, claims to shares of the stock-trading software have been made by FTX, the cryptocurrency trading platform BlockFi, and liquidators in Antigua.

FTX attempted late last month to prevent BlockFi from acquiring control of the Robinhood shares by claiming that they belonged to Alameda Research.

Related Reading: CoinDeal Scam: SEC Slaps 8 Individuals, Businesses For Alleged $45 Million Fraud

The Fight For Robinhood Shares

According to Shapiro, a dispute over rival claims to Robinhood shares could be resolved through the use of a forfeiture procedure.

BlockFi had sued Emergent Fidelity Technologies, the holding company of Bankman-Fried, for the shares that were purportedly placed as collateral in November.

Robinhood Markets. Image: Jakub Porzycki–NurPhoto/Getty Images

In May 2022, Bankman-Fried, also referred to as SBF, acquired 7.42% of Robinhood’s shares, describing the financial services firm as an “attractive investment.”

“I have always been fascinated by the business Vlad and his team have created.” SBF remarked.

However, he pointed out that FTX had no plans to acquire the brokerage app prior to its demise.

“That being said, there are no active M&A conversations with Robinhood.”

Recent reports suggested that the former cryptocurrency tycoon borrowed more than $500 million from Alameda to finance the transaction.

Crypto total market cap at $776 billion on the daily chart | Chart: TradingView.com

On Guilty Pleas & Pinning Down A Boss

FTX and Alameda both filed for bankruptcy in December when investors rushed to withdraw their funds from the exchange, causing a liquidity mess and spreading fear throughout the cryptocurrency landscape.

Former Alameda Research CEO Caroline Ellison and FTX co-founder and former chief technology officer Gary Wang have pleaded guilty to criminal charges.

They were two of Bankman-Fried’s important sidekicks.

The two individuals are currently cooperating with the federal authorities in their investigation and prosecution of the former FTX big boss.

Meanwhile, Wednesday’s closing price for Robinhood stock was $8.36, up 3.5%, according to statistics from Benzinga Pro. During extended trading, the stock slipped 0.1%.

-FBI Law Enforcement Bulletin

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Christian Encila

Christian Encila

Follow

Christian, a journalist and editor with leadership roles in Philippine and Canadian media, is fueled by his love for writing and cryptocurrency. Off-screen, he's a cook and cinephile who's constantly intrigued by the size of the universe.

Full Profile

Related Posts

crypto

South Korea To Confiscate Crypto Cold Wallets If Taxes Aren’t Paid

3 hours ago
Bitcoin

$48 Million Salvation: ‘Bitcoin Jesus’ Roger Ver Settles Tax Fraud Case

7 hours ago
Coinbase & Mastercard Vie to Take Over Stablecoin Firm BVNK – The Best Altcoins to Buy Stand to Benefit

Coinbase & Mastercard Vie to Take Over Stablecoin Firm BVNK – The Best Altcoins to Buy Stand to Benefit

6 hours ago
Gemini

Gemini Makes Its Move Down Under With Australian Exchange Debut

9 hours ago
Ripple’s RLUSD Approaches $1B as XRP Slides – Why $BEST Could Be the Smarter Bet

Ripple’s RLUSD Approaches $1B as XRP Slides – Why $BEST Could Be the Smarter Bet

9 hours ago
Το Zcash (ZEC) εκτοξεύεται με άνοδο 40% και κεφαλαιοποίηση 4 δισ. δολαρίων

Το Zcash (ZEC) εκτοξεύεται με άνοδο 40% και κεφαλαιοποίηση 4 δισ. δολαρίων

10 hours ago

Premium Sponsors

Press Releases

  • BNB

    ChatGPT предвижда BNB да достигне $2,500...

    12 hours ago
  • Maxi Doge นักสู้เหรียญมีมยืนโพสท่าในสังเวียนมวย

    Binance-Peg DOGE นำโด่ง Top 11...

    2 days ago
  • Find Out Why Whales are Rushing to Buy Bitcoin Hyper’s $22M Presale—Plus, Our $HYPER Price Prediction.

    Find Out Why Whales are Rushing to Buy Bitcoin Hyper’s...

    2 days ago
  • ...

    3 days ago
  • Your Chance to Win Up to 10% Deposit Bonus and Up to 21K $USDT Bonus Prizes at KCEX

    Your Chance to Win Up to 10% Deposit Bonus and Up to 21K...

    3 days ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

About Us

  • Advertise
  • Contact us
  • Editorial Policy
  • Privacy Policy
© 2025 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
      • Crypto Betting
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Advertise

© 2025 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.