Sam Bankman-Fried’s holding company, Emergent Fidelity Technologies, has applied for bankruptcy protection.
Emergent Fidelity Technologies voluntarily declared bankruptcy under Chapter 11 filings in the United States Bankruptcy Court, according to court documents submitted on February 3. Regarding the whereabouts of almost 55 million Robinhood shares, BlockFi (loan protocol) earlier filed a lawsuit against the company in November.
BlockFi, FTX creditor Yonathan Ben Shimon, SBF and other parties dispute ownership of the $590 million worth of Robinhood shares. In connection with a lawsuit against FTX, the US Department of Justice declared on January 6 that it had seized these shares as well as about $20 million.
Shares and $20 million have been claimed by Emerging Fidelity Technologies as their “sole known asset,” having been held by brokerage Marex Capital Markets before the forfeiture. In order to seek “joint management” between the two bankruptcies, Emergent Fidelity Technologies filed for Chapter 11 in the same court as FTX, according to a statement made by Angela Barkhouse, one of the Interim Liquidators in the case. Barkhouse claims that SBF owns 90% of the business.
Related article to Sam Bankman-Fried: https://barmycrypto.com/two-people-who-signed-on-as-guarantors-for-sam-bankman-fried-are-expected-to-go-public-next-month/
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