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    <p><a rel="noopener noreferrer nofollow" title="Crypto" href="https://thebittimes.com/tag/crypto.html">Crypto</a> trading firm Robinhood has been able to repurchase <a rel="noopener noreferrer nofollow" title="Sam Bankman-Fried" href="https://thebittimes.com/tag/sam-bankman-fried.html">Sam Bankman-Fried</a> and Gary Wang’s stakes from the United States Marshal Service.&nbsp;</p> 
    <p>FTX founders Bankman-Fried and Wang owned 55 million shares in Robinhood through Emergent Fidelity Technologies; these shares were seized as part of the criminal case against Bankman-Fried. A warrant for seizure of these shares was issued on December 30, 2022. On January 4, they were transferred to the US which filed to sell these on August 13.</p> 
    <p>Robinhood paid $605 million to repurchase these shares in an agreement with the US Marshal Service.&nbsp;</p> 
    <p>Bankman-Fried and his lawyers have previously opposed the FTX bankruptcy estate’s claim on these shares and specifically argued that clients of FTX only risked “economic loss,” whereas Bankman-Fried faced the “irreparable” harm of potentially not being able to use these funds to support his criminal defense.&nbsp;</p> 
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      <blockquote class="wp-embedded-content" data-secret="459o1OQbi9">
        Scoop: Indicted billionaire Joe Lewis sold property to Sam Bankman-Fried 
      </blockquote><iframe class="wp-embedded-content" sandbox="allow-scripts" security="restricted" style="position: absolute; clip: rect(1px, 1px, 1px, 1px);" title="“Scoop: Indicted billionaire Joe Lewis sold property to Sam Bankman-Fried” — Protos" src="https://protos.com/scoop-indicted-billionaire-joe-lewis-sold-property-to-sam-bankman-fried/embed/#?secret=7CHP3id6do#?secret=459o1OQbi9" data-secret="459o1OQbi9" width="500" height="282" frameborder="0" marginwidth="0" marginheight="0" scrolling="no"></iframe> 
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    <p><em>Read more: New evidence reveals Caroline Ellison blamed SBF for FTX demise</em></p> 
    <p>Wang has already pleaded guilty to wire fraud, conspiracy to commit wire fraud, conspiracy to commit commodities fraud, and conspiracy to commit securities fraud.&nbsp;</p> 
    <p>Bankman-Fried faces many similar charges and more, but has continued to plead not guilty so far.&nbsp;</p> 
    <p>&nbsp;<em>Got a tip? Send us an email or ProtonMail. For more informed news, follow us on&nbsp;</em><em>Twitter</em><em>,&nbsp;</em><em>Instagram</em><em>,&nbsp;</em><em>Bluesky</em><em>, and&nbsp;</em><em>Google News</em><em>, or subscribe to our&nbsp;</em><em>YouTube</em><em>&nbsp;channel.</em></p> 
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/robinhood-pays-605m-to-buy-sam-bankman-fried-s-stake-tbt61253.html">https://thebittimes.com/robinhood-pays-605m-to-buy-sam-bankman-fried-s-stake-tbt61253.html</a></p>

Robinhood pays $605M to buy Sam Bankman-Fried's stake

TheBitTimes

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