Bankman-Fried Said He Had $100,000 Left. Government Seized $698 Million.

The government notably confiscated 55,273,469 Robinhood shares (HOOD). At Robinhood’s closing price ($9.52) last Friday on Wall Street, that stake is valued at $526.2 million.

This stake in Robinhood is at the center of a dispute between Bankman-Fried, FTX and bankrupt crypto lender BlockFi. Bankman-Fried acquired those Robinhood shares with a $456 million loan from Alameda Research.

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The government also seized more than $20.74 million held in an account in the name of Emergent Fidelity Technologies, a holding company. It also seized $94.57 million cash from an account held with Silvergate Bank on behalf of FTX Digital Markets, a subsidiary of FTX in the Bahamas.

www.thestreet.com/investing/cryptocurrency/bankman-fried-said-he-had-100000-left-government-seized-700-million

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