Feds seize almost $700 million of Sam Bankman-Fried's assets in cash and equity

1/21/2023

Feds seize almost $700 million of Sam Bankman-Fried's assets in cash and equity, per CNBC originally made.

The majority was Robinhood, $HOOD, shares that were owned by the FTX founder, a court filing revealed.

Recently, Sam Bankman-Fried, the founder of FTX, is being sued by BlockFi over allegedly pledged Robinhood shares as collateral. The lawsuit comes after the crypto company seeks bankruptcy protection.

Three of the seized accounts were held at Silvergate Bank, in the name of FTX Digital Markets, holding over $6 million.

Almost $50 million was custodied at Moonstone Bank, a U.S. financial institution with ties to FTX management, the court filing shows.

Prosecutors have also seized $50 million from Sam Bankman-Fried's account in the tiny rural Washington State bank, the Farmington State Bank, where last year he purchased an $11 million stake in the bank itself.

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