The U.S. Department of Justice seizes over 55 million shares of Robinhood stock held by SBF and Gary Wang.
Court documents show that the U.S. Department of Justice has seized over 55 million shares of Robinhood stock held by Sam Bankman-Fried and FTX co-founder Gary Wang through their holding company Emergent Fidelity Technologies. Based on last Friday's closing price, the 55 million shares of Robinhood stock are valued at approximately $456 million. The stock was previously held in an account at the UK brokerage firm ED&F Man.
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According to court documents revealed, the U.S. Department of Justice has seized over 55 million shares of Robinhood stock held by Sam Bankman-Fried and Gary Wang, co-founders of FTX, through their holding company Emergent Fidelity Technologies. Based on last Friday's closing price, the 55 million shares of Robinhood stock are valued at approximately $456 million. The stock was previously held in an account at the UK brokerage firm ED&F Man.
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