DOJ Seizure of HOOD shares from FTX

The big guy will get his 10

I wondered about that. So if FTX is still holding naked short positions, they would be settled after assets are liquidated

I would think that would be settled by bankruptcy courts. Who is first in line to get what's left until the money is gone

quote:

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Shapiro said that competing claims to shares of the stock-trading app could be worked out in a forfeiture proceeding. Bankrupt crypto firm BlockFi, FTX and liquidators in Antigua have all laid claim to the Robinhood stock, along with Bankman-Fried.

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quote:

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James Bromley, an attorney for FTX, told Dorsey that none of the assets targeted for seizure are currently in the direct control of any of FTX entities in Chapter 11. He said the Robinhood shares were subject to litigation and it was an "open question" about who owns them.

The Robinhood stock, which closed on Wednesday at $8.36 per share, is also being claimed by BlockFi Inc, another bankrupt crypto firm as well as liquidators of Emergent, which is in insolvency proceedings in Antigua, where it is incorporated.

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This is going to get interesting, VERY interesting.

Like I've told the poli board multiple times, the various litigations (civil, criminal, and bankruptcy) will give us more information than what we could ever dream of about FTX