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recently Article by Reuters Said DOJ prosecutors have seized a staggering $700 million from the creator of the shabby FTX exchange Sam Bankman-Fried (widely known in the crypto space as SBF). The source cited by the article is Friday’s court filing.
Dogecoin co-founder Billy Marcus shared the article on his Twitter handle, adding a sarcastic note, in which he cited the SBF, after the FTX founder told the court that only $100,000 of his billions was left. The above funds seized from SBF came largely in the form of Robinhood shares.
Tech mogul Elon Musk, owner of Tesla and Twitter, commented on that with two ROFL emojis. When the exchange went bankrupt and SBF was accused of defrauding investors, both Musk and Marcus were highly critical of FTX and its founder.
— Elon Musk (@elonmusk) January 21, 2023
Robinhood Shares, Binance and SBF Bank Deposits
SBF has been accused of using large sums in USD belonging to FTX users in an attempt to save its crypto trading firm Alameda Research, but it pleaded not guilty to those fraud charges. He will face trial over it in the fall of this year.
Earlier this year, the US Department of Justice (DOJ) announced the freezing of Bankman-Fried’s assets. The lion’s share of them were in the form of Robinhood shares (HOOD), however, there were also funds in several banks and crypto deposits on the Binance digital exchange.
Specifically, DOJ federal prosecutors this week seized approximately $100 million from accounts SBF held at Silvergate Bank linked to FTX Digital Markets, a Bahamas-based FTX subsidiary.
Elon Musk turns down SBF’s $5 billion offer
As first reported by U.Today, last year, before the FTX troubles became apparent to everyone in the market, Sam Bankman-Fried approached Elon Musk to help him buy the social media giant. to offer to invest $ 5 billion. He also offered to help Twitter convert to Blockchain Rail.
Musk explained to him that doing Twitter on the blockchain was an impossible task and turned down his offer of money. In all, Musk paid $44 billion to become the sole owner of Twitter, a deal finalized at the end of October last year.
source: u.today
