Department of Justice Seizes $450 Million Worth of Robinhood Stock owned By FTX’s SBF


SBF and Wang bought the shares through a holding company, Emergent Fidelity Technologies, using funds borrowed from Alameda Research. SBF owns 90% of Emergent while Wang owns 10%. Bankman-Fried also argued that both Emergent and FTX maintained similar interests to plead his case toward ownership. 

SBF said in a filing last week that he needs them to help pay his legal fees.


Signup for the USA Herald exclusive Newsletter