FTX ex-CEO wishes to retain $450 million Robinhood shares for this reason
FTX Ex-CEO SBF argued that he should retain control of approximately $450 million in shares of financial trading app Robinhood.In aon 5 January, the ex-CEO of FTX, Sam Bankman-Fried aka SBF, argued that he should retain control of approximately $450 million in shares of financial trading app Robinhood. He was disputing a competing claim by the estate of the company he founded and once ran, the bankrupt crypto exchange FTX.
Bankman-Fried argued that he and Wang had legitimately purchased the shares using money borrowed from FTX’s trading arm, Alameda Research, and that the loan was documented. In another SBF, who pleaded not guilty this week to charges including money laundering and conspiracy to commit wire fraud, resigned as CEO on 11 November, the same day the company went bankrupt due to allegations of a blurring of lines between FTX and Alameda.
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