Almost $ 700 million was seized from founder of FTX cryptocurrency

This week, the US Federal Prosecutor’s Office arrested the assets of the FTX founder Sam Bankman-Frid in the amount of almost $ 700 million. The bulk of the arrested assets is stored in the form of Robinhood Markets shares. Ownership of the Robinhood shares in the amount of about $ 525 million was the subject of disputes between Bankman-Fried and a bankrupt crypto creditor of Blockfi.

more than $ 101 million from Silvergate Bank, which was associated with FTX Digital Markets, a subsidiary of FTX on Bagams, was also confiscated. The US Ministry of Justice also stated that the assets in three accounts of Frida in Binance are also to be confiscated, but their amount is not reported.

Bankman-Fried, who is accused of theft of billions of dollars from FTX crypto-tanks, has not yet pleaded guilty of fraud accusations. He must appear before the court in October 2023.

Bankman-Fried is also accused of using investors’ money to finance his own trading company Alameda Research. According to court documents, the FTX owed its 50 largest creditors more than $ 3 billion

/Media reports cited above.