Home > RESEARCH > Former FTX CEO Borrowed $546M from Alameda Research to Purchase Robinhood Shares

Former FTX CEO Borrowed $546M from Alameda Research to Purchase Robinhood Shares

On December 27th, Sam Bankman-Fried's affidavit revealed that SBF and Gary borrowed $546 million from Alameda to buy Robinhood stakes.

Rob Bankman (Sam Bankman)-Fried (SBF)Co-founder and former CEO of the cryptocurrency exchange FTXRaise US $546 million from FTX's relevant online trading platform Alameda Research to buy shares of Robinhood, a password trader..

According toAffidavitRob Bankman Fried filed suit in Antigua and Barbuda High CourtPrince Xiao, the former founder of FTXCEO and FTX, borrowed four cashier's tickets from the Alameda Research Center..

What's noteworthy is that Bankman-FriedAffidavit was submitted on December 12On the day of his birthBe caught. But those documents areIt was not announced until December 27th..

The four promissory notes are dated April 30 and May 15, respectively.The first set of loans was proposed.April 30th, including about $317 million for SBF loans and about $35 million for Gary loans.

Under another premiseOn May 15th, Alameda Research brought a loan of about $194 million to Sam Bankman-Fry..

According to the affidavitThis kind of loan is used to SBF enterprise Emergent Fidelity Technologies Ltd. Nominal purchase of 7.6% shares of login password trader Robinhood. Bankman-Fried claims that the use of the shares is worth about $546 million. However, SBF noted that "this kind of share is acquired in stages," so he can't remember the exact price.

After making the paymentIt is reported that the shares acquired are used as collateral for the loan obtained by Bankman-Fry 's Alameda Research from BlockFi..

The newly issued affidavit will seriously affect the ongoing judicial proceedings involving HK $560 billion of Robin Hood shares. November 28th, digital money lendersBlockFi filed a lawsuit against Emergent Fidelity Technologies in order to acquire Robin Hood's shares, which were pledged as collateral..

FTX responded to the complaint in accordance with the published resolution. December twenty _ secondFTX submitted a resolution requiring the bankruptcy judge of the United States to block BlockFi regulation of Robinhood shares on the basis of an application for a fully automatic suspension..

by wjb news
© 2023 WJB All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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