The Crypto Reckoning Continues
The Breakdown
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The DOJ Seizes Robin Hood Shares in FTX Bankruptcy
The US government has seized or is in the process of seizing the $460 million Robin Hood stake owned by an FTX subsidiary as part of its fraud case against Sam Bankman Freed. The shares were purchased via a holding company and held by a brokerage company called Merrick's Capital Markets. These Robin Hood shares have been the subject of disputed ownership,. BlockFi, the FTX bankruptcy estate and SPF himself for all lodging claims to ownership of the 7.6 stake in Robin Hood. All have been just, I think, incredulous is the right word at Sam's argument to keeping these funds.
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