• The U.S. Department of Justice announced that it had seized $450 million worth of Robinhood stock.
• Crypto lender Blockfi claims they own the shares due to a deal they struck with bank man fried in November.

The US government is in the process of seizing assets that are linked to the cryptocurrency exchange FTX. This includes $460 million in shares of the trading app Robinhood.

The shares were acquired by FTX co-founders Sam Bankman-Fried and Gary Wang using a loan from Alameda Research. However, the shares are now being claimed by BlockFi and liquidators in Antigua.

BlockFi claims that FTX owes them the shares as part of a bailout agreement that was signed in July. The liquidators in Antigua are also claiming the shares, as they are part of the bankruptcy estate of Three Arrows Capital, which owes FTX money.

The US government is now trying to determine who owns the shares. The next court date is on January 20, 2023, and the judge has blocked off the day’s agenda to focus on FTX, the Robinhood shares, and any new developments.

This is the latest development in the ongoing saga of FTX. The cryptocurrency exchange has been under scrutiny for its lending practices, which have been linked to the collapse of Three Arrows Capital. FTX has also been accused of market manipulation.

The seizure of the Robinhood shares is a sign that the US government is taking a closer look at FTX. It remains to be seen what the outcome of this investigation will be, but it is clear that FTX is in hot water.