Funds borrowed from Alameda were used to purchase shares in Robinhood that were later used as collateral for the loan Alameda took out with the now-bankrupt lending firm BlockFi. Now everybody is fighting for the shares.
Sam Bankman-Fried, the disgraced founder of cryptocurrency exchange FTX, borrowed over $546 million from the exchange’s sister firm Alameda Research to fund his purchase of Robinhood shares.
On Apr. 30 loans of around $316.6 million and $35.1 million were given to Bankman-Fried and Wang respectively. Later, two loans of around $175 million and $19.4 million were given to Bankman-Fried on May. 15.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Sam Bankman-Fried used $546M in Alameda funds to buy Robinhood stakeDisgraced FTX founder Sam Bankman-Fried borrowed $546 million from Alameda Research to purchase Robinhood shares this year, new court documents show. The indicted 30-year-old admitted he and co-fou…
Read more »
FTX's Sam Bankman-Fried Borrowed From Alameda to Buy Robinhood SharesSam Bankman-Fried said in an affidavit he bought Robinhood shares with funds borrowed from Alameda – the same shares later pledged as collateral against a loan taken out by Alameda. realDannyNelson reports
Read more »
Emails Reportedly Show Ex-Regulators Helped SBF Get Ins With the CFTCFTX co-founder Sam Bankman-Fried dined with an ex-CFTC official who’s now with the SEC, two agencies that have since cited SBF for fraud.
Read more »
SBF Reportedly in Talks With ‘Big Short’ Writer While Under House ArrestThe ex-billionaire’s squandering of investor funds is reportedly prime material for the author.
Read more »
SBF stays at parents’ house on a $250 million bail: Law Decoded, Dec. 19-26While former FTX CEO was released on bail, former Alameda CEO signed a plea to collaborate with the prosecution.
Read more »
SBF gets prison advice: Shave head, deepen voice and listen to rapMartin Shkreli, also known as 'Pharma Bro' has given Sam Bankman-Fried several nuggets of advice he thinks will help him survive prison.
Read more »