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FTX Seeks Court Help

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FTX has sought relief from a US bankruptcy court in its ongoing battle to own up to $450 million of Robinhood stock.

The group trying to grab Robinhood shares is BlockFi, F.T.X Creditor Yonathan Ben Shimon and Sam Bankman-Fried. First crypto exchange FTX has asked for help from a US bankruptcy court in an ongoing battle to own up to $450 million in Robinhood stock market.

Specifically, 56 million shares are held by Emergent Fidelity Technologies, 90% of which is owned by FTX’s founder and ex-president Sam Bankman-Fried and organized in Antigua and Barbuda, according to a court filing. The group trying to take control of Robinhood’s shares – frozen in ED&F brokerage Man Capital Markets in November – is the crypto lender BlockFi, the creditor F.T.X Yonathan Ben Shimon and Bankman-Fried.

“The fact that many creditors before the petition of various creditors and Mr. Bankman-Fried are seeking the possession of Robinhood shares shows that the assets will be frozen until this Court can resolve This statement is valid for all creditors and debtors,” said FTX.

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