Hacker News new | past | comments | ask | show | jobs | submit login
Feds seized nearly $700M from FTX founder Bankman-Fried (reuters.com)
34 points by dev_tty01 on Jan 21, 2023 | hide | past | favorite | 3 comments



> Federal prosecutors have seized nearly $700 million in assets from FTX founder Sam Bankman-Fried in January, largely in the form of Robinhood stock, according to a Friday court filing.

It's like once you enter the world of like... alternative finance (not your typical boring mutual fund/ETF), you have to dive in head first with no alternatives. Gotta love crypto. Gotta love a brokerage that front-runs your limit orders to predatory market makers so they can scalp it. Gotta YOLO 0DTE for tendies (aka be a "degen" at r/wallstreetbets).

> and assets deposited at crypto exchange Binance.

The same competing crypto exchange ran by "CZ" who helped "mastermind" the collapse of FTX?

> Bitcoin rises 6.2 percent to $22,401

Slightly unrelated but on the same page... why? Just... why? lol Let it die already?

> The most recent asset seizure reported by the DOJ took place on Thursday, when prosecutors seized $94.5 million in cash from an account at Silvergate Bank which was associated with FTX Digital Markets, FTX's subsidiary in the Bahamas.

They're totally going to work diligently to get that money back to the 1-5 million users FTX had, right? https://www.google.com/search?q=how+many+ftx+customers


> They're totally going to work diligently to get that money back to the 1-5 million users FTX had, right?

Based on recent history with mtgox, the money will be captured by lawyers and everyone else in between.


They do not plan to return it.




Guidelines | FAQ | Lists | API | Security | Legal | Apply to YC | Contact

Search: