The federal government has already seized more than $697 million in funds and Sam Bankman-Fry-related assets, according to court documents filed on Friday. The vast majority of this asset is through Robin Hood stocks owned by the founders of FTX. Bankman-Fry announced in May that he had invested a 7.6 per cent stake in Robin Hood, which might have been a "high-profile project investment" at the time.

SBF withheld $700 million in assets

Robin Hood's stake of HK $550 billion or more is at the heart of a fierce dispute involving multiple parties, including Caribbean claimants, representatives of BlockFi, the resumed digital currency lender, Bankman-Fry itself and the leadership of FTX's bankruptcy liquidation proceedings. Federal prosecutors claimed that the Robin Hood stock was bought with money said to have been stolen from FTX customers.

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More than $6 million was stolen from three bank accounts in the name of FTX Digital Markets. This asset was previously owned by a company in the Bahamas and was finally recovered by the United States government on January 11. Silver Gate recently reported a loss of $1 billion in the fourth quarter of 2022 because of the collapse of FTX. In addition, the court letter said that about $50 million was stored in Moonstone Financial, a U. S. financial institution linked to the FTX government.

SBF's Binance account

Federal prosecutors, on the other hand, did not disclose the total amount of money held in one Binance account or two Binanc.US accounts into valuables. The only asset of no intrinsic value that the three Binance wallets were withheld.

Robert J. Ray III, who succeeded FTX as the new CEO after the departure of Bankman Fried, is currently working on corporate restructuring while diligently recovering the assets lost by corporate depositors. Bankman-Fried, 30, was detained in December on criminal fraud charges and is now detained at home after paying a $250 million ransom. SBF has clearly pleaded not guilty and at this stage is awaiting the trial scheduled for 2 October.