Michaela
Court documents from the U.S. District Court for the Southern District of New York have revealed the staggering array of assets forfeited by former FTX CEO Sam Bankman-Fried (SBF), with dozens of pages detailing the extensive property he amassed.
The “Final Order of Forfeiture as to Specific Property,” issued on February 18, outlined several of Bankman-Fried’s assets, notably including $1 billion in property, two private jets, a plethora of political donations, and the largest line item: 55.2 million shares of Robinhood.
Following the seizure of Bankman-Fried’s assets by the U.S. Department of Justice, the trading platform Robinhood repurchased the shares for $605.7 million in September 2023.
Assets held by Alameda Research, a trading firm co-founded by Bankman-Fried, were also included.
Additionally, court documents itemized several political donations that Bankman-Fried either personally made or directed FTX executives, notably Ryan Salame and Nishad Singh, to contribute on his behalf. These contributions, later returned to the government, were allocated to organizations spanning the political spectrum, featuring both congressional candidates and groups focused on in-state politics.
SBF built up a vast portfolio of digital currencies and cash, with much of his crypto stored on Binance.US and his cash held in traditional bank accounts. Among the seized assets are millions in Tether (USDt) alongside significant amounts of Bitcoin, Ether, Cardano, and Dogecoin.
FTX Initiates Creditor Payouts
On February 18, FTX Digital Markets, the Bahamian branch of FTX, began repaying “convenience class” creditors — those with claims up to $50,000 — with the process being managed by crypto exchange Kraken and digital asset custodian BitGo.
According to a post on X by Sunil, the designated “FTX Creditor Champion” overseeing bankruptcy proceedings, many FTX creditors have already received payments on their claims.
“It has been a long and difficult 2.5yrs with suicides, depression, divorces – Nov 22 everything was lost,” Sunil wrote.
Sunil then encouraged fellow FTX creditors to stay connected as he continues to advocate for FTX customers beyond the bankruptcy, promoting projects and equity airdrops.
Read More
- The Rise of SBF Pardon Speculation: Crypto Ties, Political Influence, and Legal Uncertainty
- The Bankman-Fried Saga: When Political Donations Become a Family Affair
- Apology Accepted? Bankman-Fried’s 25-Year Sentence Sparks Disillusionment in Crypto Circles
Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.
