Posted on 11/12/2022 4:37:46 PM PST by Enterprise
What about the liquid assets? Well, the FT report goes on to notes that until Friday afternoon, Bankman-Fried was looking to sell the $472MM of Robinhood shares, the largest liquid asset listed for FTX Trading, in privately negotiated deals he was arranging on the messaging app Signal, according to an FT source. As a reminder, SBF acquired a 7.6% stake in Robinhood in May, a transaction which delayed (but did not halt) the company's collapse into oblivion. As part of the attempted firesale, Bankman-Fried was entertaining offers at a 20% discount to Robinhood’s VWAP price, or about $9 per share, said an FT source, who ultimately declined to buy due to perceived legal risks.
But what is remarkable, is that the proceeds from the HOOD stock offering would not have gone to the now bankrupt FTX estate to satisfy prepetition claims; instead the Robinhood shares were held by an Antigua and Barbuda entity called Emergent Fidelity, which is personally controlled by Bankman-Fried, according to US securities filings. Emergent Fidelity is not among the entities listed in Friday’s bankruptcy filing.
In other words, SBF - who is most certainly on the run at this moment - was hoping to fill up his personal bank account by dumping his HOOD holdings, while giving FTX creditors the finger.
(Excerpt) Read more at 12ft.io ...
There was a big push a few years ago about the “Robinhood’ stuff through the WEF (and Co) IIRC. Before Crypto.
He’ll wind up in a country where he can’t be extradited from.
A lot SBF’s “personal” money went to support Democrats this election cycle.
Democrats and shady money. It never ends does it?
I expect him to become a Democrat Senatorial candidate.
She looks like Hillary Clinton when she was that age; scary.
Basically true. He would be safe if Republicans were mad at him. If Democrats were mad at him, he would not be able to sleep well at night no matter where he was.
You betcha...
What a tangled web of shysters.
It’s probably not a good idea to get involved with companies based in the Caribbean and avoiding US laws
These are often shell corporations
I would avoid fake digital currency no matter what country
Exactly! What I said earlier.
Was Madoff the 2nd biggest Dem donor, using stolen money in a ponzi scheme to fund Democrat campaigns?
Pennsylvania elected Fetterman so I think Fried would be elected in a landslide.
“””””Not trying to be overly snarky, but this is supposedly his girlfriend, Caroline Ellison. Is she worth going to prison for?””””
And conversely, is HE worth going to prison for?
From what I understand, both are headed to the slammer.
Nor will the current administration try to.
He served his purpose. He helped the Dems during the election cycle.
Doesn’t everyone remember their first one?
Yep.
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