(Bloomberg) — Sam Bankman-Fried’s Emergent Fidelity Technologies Ltd., an offshore entity that owns 55 million shares of Robinhood Markets Inc., filed for bankruptcy Friday amid a fight over who should get the stock following the collapse of FTX Group. Most Read from Bloomberg The Robinhood stake, worth more than $590 million at current market prices, … Read more
Emergent Fidelity Technologies, a firm co-founded by FTX founder Sam Bankman-Fried and former executive Gary Wang, filed for Chapter 11 bankruptcy protection late Friday. Emergent Fidelity was the company which held 56 million shares of Robinhood Markets (HOOD) stock, an asset that quickly became a subject of key interest among several companies for the value … Read more
Creditors in FTX’s bankruptcy say Sam Bankman-Fried and his top deputies aren’t playing ball. The parallel criminal case against SBF, Caroline Ellison, and Gary Wang may be to blame. Usually, cooperating witnesses share everything — but prosecutors may be holding back, experts say. In the months since FTX filed for Chapter 11 bankruptcy, the company … Read more
Beleaguered crypto exchange founder Sam Bankman-Fried tried to stop bankruptcy proceedings in the U.S. in November to transfer assets from his crypto exchange to foreign regulators. According to federal prosecutors, Bankman-Fried expected lenient treatment from foreign regulators, eventually allowing him to regain control of FTX. Last month, the Manhattan U.S. attorney’s office charged Mr. Bankman-Fried for … Read more
Sam Bankman-Fried’s parents lease the land for their home from Stanford, the LA Times reports. They’d put up the $4 million home as collateral for the former FTX CEO’s $250 million bail release. Bail terms are about flight-risk rather than if collateral can cover the full amount, legal experts said. When Sam Bankman-Fried’s parents helped … Read more
U.S. District Judge Lewis Kaplan ruled on Monday that the names of the two people who co-signed Sam Bankman-Fried’s $250 million bail bond, aside from the FTX founder’s parents, can be made public. The New York judge overseeing Bankman-Fried’s criminal trial ruled in favor of four separate petitions by a number of news organizations seeking … Read more
U.S. District Judge Lewis Kaplan ruled on Monday that the names of the two people who co-signed Sam Bankman-Fried’s $250 million bail bond, aside from the FTX founder’s parents, can be made public. The New York judge overseeing Bankman-Fried’s criminal trial ruled in favor of four separate petitions by a number of news organizations seeking … Read more
At least some of Sam Bankman-Fried’s immediate familyaren’t cooperating with the probe into the collapsed crypto exchange FTX and should be cross-questioned in court, the company’s lawyers have said in a made Wednesday. The FTX founder’s brother, mother and father were his “advisors,” and should be subpoenaed alongside former company executives as the company’s new … Read more
(Bloomberg) — The parents and brother of alleged crypto fraudster Sam Bankman-Fried should be forced to answer questions and provide financial documents about their personal wealth and any money they may have gotten from FTX, the bankrupt firm he founded, lawyers said in a court filing. Most Read from Bloomberg FTX asked a judge for … Read more
The Justice Department has seized more than $170 million in cash from multiple accounts associated with disgraced FTX co-founder Sam Bankman-Fried, according to court documents filed Friday. This is in addition to an estimated $526 million in stock which was also seized by the federal government. According to the federal court documents obtained by CBS … Read more