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US Government Seizes $697 Million in FTX Co-Founder's Assets

According to court documents filed on Friday, the US government has seized nearly $700 million in assets belonging to FTX co-founder Sam Bankman-Fried.

Sam Bankman-Fried
Sam Bankman-Fried

The assets, primarily Robinhood shares, were previously owned by Bankman-Fried and are now in the custody of the US government.

Assets Seized from FTX Digital Markets and Moonstone Bank

Of the seized assets, three accounts were held at Silvergate Bank under the name of FTX Digital Markets, holding just over $6 million, and were seized on or about Jan. 11. Additionally, nearly $50 million was being held by Moonstone Bank, which has ties with FTX management. It is assumed that US prosecutors have seized these assets around the same time frame.