Robinhood records $57m loss on processing error
Robinhood has disclosed a loss of $57 million as a result of a processing error involving shares of a small company in December. The error was made when Robinhood handled Cosmo Health’s 1-for-25 reverse stock split improperly. Cosmo Health is a nutraceuticals company with a market value of about $50 million. This mistake allowed Robinhood’s […]
U.S. DOJ to seize Robinhood shares tied to Bankman-Fried
The Justice Department seized Robinhood shares and more than $20 million in U.S. currency as part of the criminal case against SBF. In connection with the criminal investigations into the leaders of the cryptocurrency exchange FTX, the US Department of Justice has formally notified the court overseeing BlockFi’s bankruptcy that it has seized assets. The […]
US to seize Robinhood shares related to FTX
US authorities are in the process of seizing Robinhood Markets Inc (HOOD.O) shares tied to Sam Bankman-Fried, who is accused of fraud in the collapse of FTX. According to US attorney Seth Shapiro, who is in charge of the FTX bankruptcy, the DOJ did not think the 56 million shares of Robinhood, valued at around […]
FTX Opposes BlockFi’s Claim to SBF’s Robinhood Shares
U.S. bankruptcy judge to stop BlockFi from laying claim to more than $440 million worth of Robinhood stock purchased by indicted FTX founder. The troubled cryptocurrency exchange FTX asked a bankruptcy judge in the US for help in preventing the crypto loan company BlockFi from seizing shares in Robinhood that its former CEO Sam Bankman-Fried […]
BlockFi sues Sam Bankman-Fried over shares in Robinhood
Bankrupt cryptocurrency lender BlockFi is suing FTX’s Bankman-Fried’s investment company Emergent Fidelity Technologies to turn over its $575M stake in Robinhood as collateral it agreed to pay. Sam Bankman-holding Fried’s firm has been sued by now bankrupt cryptocurrency lending business BlockFi for the shares of Robinhood that Bankman-Fried promised as collateral earlier this month. Just […]