The United States Federal prosecutors have confiscated $697 million in assets belonging to Sam Bankman-Fried – the founder of the bankrupt crypto exchange, FTX. According to a report by CNBC, FTX Digital Markets had three accounts on Silvergate Bank, which held more than $6 million. The assets from this platform were seized around January 11, 2023.
In addition, the enforcement authorities seized nearly $50 million from Moonstone Bank, which had connections to the FTX management. Assets were also recovered from Binance’s global platform, and Binance.US, the global exchange’s American arm. The prosecutors were able to seize three accounts belonging to SBF. However, the amount confiscated was not revealed by the authorities. The report also states that the 55 million Robinhood shares were primarily owned by Sam Bankman-Fried.
The story is still developing.