United States asserts ownership of $700 million in assets linked to Bankman-Fried and FTX

The US government wants to seize nearly $700 million in assets seized earlier this month from former FTX CEO Sam Bankman-Fried.

Over 55 million Robinhood shares worth approximately $525 million are included in the property. Those shares, purchased with borrowed Alameda funds, were at the centre of a battle between Bankman-Fried, FTX Group, and BlockFi. Officials are also attempting to seize $171 million in cash from a series of bank accounts linked to Bankman-web Fried’s of businesses. According to a bill of particulars filed late Friday in Bankman-criminal Fried’s case, the government seized those assets and others in early January and is now seeking their forfeiture.