Monday, February 6, 2023
Foxton News
No Result
View All Result
  • Home
  • World News
  • Indo-Pak-Afghan
  • Opinion
  • Middle East
  • Health Blog
  • Movies & Entertainment
  • Crypto Insight
  • Lifestyle
  • Trends
  • More
    • Sports
    • Covert Story
    • Our Festival
    • Recipe
    • Relationship
    • Travel
Foxton News
No Result
View All Result
Home Crypto Insight

FTX Battles for Control of $450M Robinhood Shares in US Bankruptcy Court

Admin_2023 by Admin_2023
December 23, 2022
in Crypto Insight
0
FTX Battles for Control of $450M Robinhood Shares in US Bankruptcy Court
0
SHARES
1
VIEWS
Share on FacebookShare on Twitter



Sam Bankman-Fried’s bankrupt cryptocurrency trade FTX is in search of assist from a United States Chapter Courtroom to achieve management of $450 million value of Robinhood shares.

The portfolio holds 56 million brokerage shares owned by Emergent Constancy Applied sciences, a company entity integrated in Antigua and Barbuda. In March, these shares represented a 7.6% stake in Robinhood and have been acquired by FTX’s founder and former CEO, Sam Bankman-Fried (SBF).

FTX in Courtroom Battle Over Robinhood Shares Value Thousands and thousands

Three events are contesting possession of the shares – crypto lender BlockFi, FTX creditor Yonathan Ben Shimon, and SBF. FTX is now asking the courtroom to cease BlockFi and different events from gaining management of the shares.

On 28 November, BlockFi filed a lawsuit requesting the turnover of the shares, which it claimed had been pledged as collateral to safe a $680m mortgage for FTX’s sister firm, Alameda Analysis.

BlockFi acknowledged that the debt compensation was due on 9 November, however Alameda and FTX filed for Chapter 11 chapter safety earlier than this date with out repaying the mortgage. FTX argued that chapter safety shields it from debt assortment efforts.

Who Will Management the Helpful Robinhood Stake?

The shares have been frozen by Emergent’s dealer, ED&F Man Capital Markets, on the order of the Chapter Courtroom following the Chapter 11 filing on 11 November. SBF additionally reportedly tried to promote the shares through a Sign app earlier than the chapter submitting.

FTX is asking the courtroom to permit the shares to stay frozen whereas it seeks methods to repay its collectors. The troubled firm claims that Emergent solely “nominally” owns the shares and that they rightfully belong to FTX. The trade additionally claims that Emergent is a “special-purpose holding firm that seems to don’t have any different enterprise.”

In its courtroom submitting, FTX argued that the truth that a number of collectors of various Debtors and SBF are all in search of possession of the Robinhood shares demonstrates that the asset ought to be frozen till the courtroom can “resolve the problems in a fashion that’s truthful to all collectors of the Debtors.”

SPECIAL OFFER (Sponsored)

Binance Free $100 (Unique): Use this link to register and obtain $100 free and 10% off charges on Binance Futures first month (terms).

PrimeXBT Particular Supply: Use this link to register & enter POTATO50 code to obtain as much as $7,000 in your deposits.



Source link

Tags: 450MBankruptcyBattlesControlcourtFTXRobinhoodShares
Admin_2023

Admin_2023

Related Posts

Japan’s Largest Pension Fund Bleeding Money as Global Economic Turmoil Seeps Deep
Crypto Insight

Japan’s Largest Pension Fund Bleeding Money as Global Economic Turmoil Seeps Deep

February 5, 2023
Crypto Wallets To Lose Anonymity? Company Raises $7.5 Million To Make It Happen
Crypto Insight

Crypto Wallets To Lose Anonymity? Company Raises $7.5 Million To Make It Happen

February 1, 2023
Let’s Recap Tech Stocks After 2000 (Opinion)
Crypto Insight

Let’s Recap Tech Stocks After 2000 (Opinion)

January 28, 2023
Next Post
Hippo spits out Uganda toddler after ‘swallowing’ him partially

Hippo spits out Uganda toddler after 'swallowing' him partially

King Charles, Camilla’s security reviewed because of this possible threat | World News

King Charles, Camilla's security reviewed because of this possible threat | World News

Photos: How 2022 became a ‘pivot year’ for clean energy | In Pictures

Photos: How 2022 became a ‘pivot year’ for clean energy | In Pictures

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

Instant Pot Risotto | Cookies and Cups

Instant Pot Risotto | Cookies and Cups

2 months ago
Enforced disappearances unacceptable: Asad Umar – Pakistan

Enforced disappearances unacceptable: Asad Umar – Pakistan

2 months ago
is a break-up of the UK eventually possible?

is a break-up of the UK eventually possible?

2 months ago
‘Unexpected, isolated incident’: Chinese foreign ministry over balloon row | World News

‘Unexpected, isolated incident’: Chinese foreign ministry over balloon row | World News

2 hours ago

Categories

  • Covert Story
  • Crypto Insight
  • Health Blog
  • Indo-Pak-Afghan
  • Lifestyle
  • Middle East
  • Movies & Entertainment
  • Opinion
  • Our Festival
  • Recipe
  • Relationship
  • Sports
  • Travel
  • Trends
  • Uncategorized
  • World News

Topics

Afghanistan ahead Awards chief China CHRISTMAS Cookies Cooks Covid crisis Crypto Cup Day East economic Festivals Film India Iran killed Lady Man Middle minister Movie News Pakistan people Report Review Russia Shows Southern sports Top tourism travel Ukraine war watch Wedding winter World year years
No Result
View All Result

Highlights

Pakistan to play three T20Is against Afghanistan in Sharjah next month

Tie the knot in style: Most stunning palaces in Rajasthan for your dream wedding | Travel

‘Unexpected, isolated incident’: Chinese foreign ministry over balloon row | World News

Isha Ambani Reaches Jaisalmer With Anand Piramal To Attend Kiara Advani-Sidharth Malhotra’s Wedding

Adani sell-off continues amid protests by India’s opposition | Business and Economy News

Turkiye embassy in Saudi Arabia urges public to avoid spreading misinformation following massive quake – Arab News

Trending

5 Bits of Encouragement for the Woman Learning to Say No
Relationship

5 Bits of Encouragement for the Woman Learning to Say No

by Admin_2023
February 6, 2023
0

For a few of us, it’s essentially the most troublesome phrase to utter aloud. This highly effective...

The Last of Us Episode 5 Gets Early HBO Max Release Date & Trailer

The Last of Us Episode 5 Gets Early HBO Max Release Date & Trailer

February 6, 2023
Canucks’ new era of leadership begins as Pettersson and Hughes don A’s

Canucks’ new era of leadership begins as Pettersson and Hughes don A’s

February 6, 2023
Pakistan to play three T20Is against Afghanistan in Sharjah next month

Pakistan to play three T20Is against Afghanistan in Sharjah next month

February 6, 2023
Tie the knot in style: Most stunning palaces in Rajasthan for your dream wedding | Travel

Tie the knot in style: Most stunning palaces in Rajasthan for your dream wedding | Travel

February 6, 2023

Recent News

  • 5 Bits of Encouragement for the Woman Learning to Say No
  • The Last of Us Episode 5 Gets Early HBO Max Release Date & Trailer
  • Canucks’ new era of leadership begins as Pettersson and Hughes don A’s
  • Pakistan to play three T20Is against Afghanistan in Sharjah next month
  • Tie the knot in style: Most stunning palaces in Rajasthan for your dream wedding | Travel

Category

  • Covert Story
  • Crypto Insight
  • Health Blog
  • Indo-Pak-Afghan
  • Lifestyle
  • Middle East
  • Movies & Entertainment
  • Opinion
  • Our Festival
  • Recipe
  • Relationship
  • Sports
  • Travel
  • Trends
  • Uncategorized
  • World News

Follow Us

Calendar

December 2022
M T W T F S S
 1234
567891011
12131415161718
19202122232425
262728293031  
    Jan »
  • Terms & Conditions
  • Privacy & Policy
  • About us
  • Contact us

© 2022 FoxtonNews

No Result
View All Result
  • Home
  • World News
  • Indo-Pak-Afghan
  • Opinion
  • Middle East
  • Health Blog
  • Movies & Entertainment
  • Crypto Insight
  • Lifestyle
  • Trends
  • More
    • Sports
    • Covert Story
    • Our Festival
    • Recipe
    • Relationship
    • Travel

© 2022 FoxtonNews