FTX asks court to keep Robinhood stock on hold

These are securities worth $ 450 million. 3 parties are fighting for ownership, including SBFFTX Trading Ltd. itself. petitioned the Bankruptcy Court to keep $450 million worth of Robinhood stock frozen. They motivate this by the fact that 3 parties are now fighting for the ownership of the assets. The details of the appeal are indicated in the court document. FTX lawyers said that about 56 million shares of the Robinhood crypto exchange are owned by Emergent Fidelity Technologies Ltd. It is the holding company of former FTX CEO Sam Bankman-Fried. It is registered in Antigua and Barbuda. Now 3 parties want to get control over them. These are bankrupt BlockFi crypto lender FTX lender Jonathan Ben Shimon and Sam Bankman-Fried. They filed suit in court. SBF bought a 7.6% stake in Robinhood back in May. He paid $648 million for them. Emergent Fidelity Technologies paid for the deal through its working capital.. Assets are now frozen in a brokerage account with ED&F Man Capital Markets Inc., according to the statement. in New York. Recall that yesterday, Bankman-Fried appeared in a Manhattan court and was released on $250 million bail. The scandalous businessman himself solved all the issues of the crypto-exchange and showed authoritarianism. He added that “a significant number of assets” were either stolen or missing.