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Former FTX CEO Sam Bankman-Fried Faces Fresh Lawsuit from BlockFi
Troubled crypto lender BlockFi has sued the former CEO of the FTX exchange Sam Bankman-Fried (SBF). The lawsuit against Bankman-Fried, which was filed just a few hours after BlockFi filed for bankruptcy on Monday, is seeking to have SBF turn over the Robinhood shares of his Emergent Fidelity Technologies firm. According to a Financial Times report, the shares were initially pledged to BlockFi as collateral on November 9. However, so far, Emergent has reportedly failed to honor the payment agreement.
Fresh Lawsuit: Sam Bankman-Fried Embroiled in Suspected Foul Play
For clarity, Bankman-Fried acquired a 7.6% stake in the online brokerage firm Robinhood back in May. The Robinhood shares were worth approximately $648 million at the time and were acquired via SBF’s Emergent investment company. But, that is not exactly the issue on the ground.
Going into an agreement, Emergent Fidelity Technologies had assured Bl
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