FTX Attempts to Freeze Robinhood Shares as Creditors Swarm to Scoop $450M in HOOD Stock

FTX Attempts to Freeze Robinhood Shares as Creditors Swarm to Scoop $450M in HOOD Stock

Court filings show that debtors from FTX Trading Ltd. and Alameda Research want 56 million shares of Robinhood stock frozen after multiple creditors are seeking access to the funds, and also Sam Bankman-Fried (SBF).
Court Filing Wants to ‘Enforce an Automatic Stay’ Against Claims Over FTX’s 56 Million Robinhood Shares
On Dec. 22, 2022, court documents show that debtors from FTX want to freeze 56 million Robinhood shares owned by a subsidiary crafted by SBF called Emergent Fidelity Technologies. The debtors from FTX and Alameda have said that multiple entities are seeking to claim these assets, including the now-defunct crypto lending firm Blockfi. FTX wants the court to enforce an automatic stay against claims for the 56 million Robinhood shares worth roughly $450 million.
The Class A common stock Robinhood shares are currently custodied at ED&F Man Capital Markets Inc. (EDFM) in New York City. EDFM does not dispute the ownership of the $450 million shares of Robinhood stock.

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