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US Department of Justice Seizes Robinhood Shares

The U.S. Department of Justice has seized shares of FTX and Sam Bankman-Fried.

By Finst News
• 3 min read
US Department of Justice Seizes Robinhood Shares

The U.S. Department of Justice has seized Robinhood shares.

During a hearing before the Delaware bankruptcy court, the Department of Justice announced that it had seized Robinhood shares worth $450 million. The U.S. federal government is pursuing the seizure of a number of assets linked to the bankrupt crypto exchange FTX. The court must now clarify the disputed ownership of the shares. DOJ attorney Seth Shapiro said on Wednesday, January 4 in Delaware: "We believe these assets are not part of the bankruptcy estate." This would mean they don’t have to be frozen until the case is resolved, as is the case with many FTX assets.

Several parties had already claimed the shares

Earlier, several parties had claimed ownership of the seized shares. Among them were the bankrupt crypto lender BlockFi, Sam Bankman-Fried, and FTX creditor Yonathan Ben Shimon. Bankman-Fried pleaded not guilty in the U.S. federal court last Tuesday.

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