Thursday, July 24, 2025
  • Login
SB Crypto Guru News- latest crypto news, NFTs, DEFI, Web3, Metaverse
No Result
View All Result
  • HOME
  • BITCOIN
  • CRYPTO UPDATES
    • GENERAL
    • ALTCOINS
    • ETHEREUM
    • CRYPTO EXCHANGES
    • CRYPTO MINING
  • BLOCKCHAIN
  • NFT
  • DEFI
  • WEB3
  • METAVERSE
  • REGULATIONS
  • SCAM ALERT
  • ANALYSIS
CRYPTO MARKETCAP
  • HOME
  • BITCOIN
  • CRYPTO UPDATES
    • GENERAL
    • ALTCOINS
    • ETHEREUM
    • CRYPTO EXCHANGES
    • CRYPTO MINING
  • BLOCKCHAIN
  • NFT
  • DEFI
  • WEB3
  • METAVERSE
  • REGULATIONS
  • SCAM ALERT
  • ANALYSIS
No Result
View All Result
SB Crypto Guru News- latest crypto news, NFTs, DEFI, Web3, Metaverse
No Result
View All Result

BlockFi Sues Sam Bankman-Fried over Robinhood Inventory Collaterals

by SB Crypto Guru News
November 29, 2022
in Crypto Updates
Reading Time: 4 mins read
0 0
A A
0


BlockFi, which filed for chapter safety on Monday, is taking Sam Bankman-Fried’s Emergent Constancy Applied sciences to court docket for seizing Robinhood shares (HOOD) pledged to the crypto lending platform as collateral.

Seize your copy of our newest Quarterly Intelligence Report for Q3 2022 earlier than your rivals and keep up-to-date with essential developments within the Foreign exchange and CFD trade!

The lawsuit got here solely hours after BlockFi filed for chapter proceedings and in addition in america Chapter Courtroom for the District of New Jersey, which is overseeing the chapter proceedings.

In response to the court docket paperwork, BlockFi and Emergent Constancy Applied sciences agreed on November 9 to ensure the cost by an unnamed borrower by pledging unnamed frequent shares. A Monetary Instances report revealed that the borrower from BlockFi is Bankman-Fried’s Alameda Analysis, and the pledged shares are of Robinhood.

Bankman-Fried acquired a 7.6 p.c stake in Robinhood earlier this yr for $648 million, with rumors of him buying a controlling stake within the on-line dealer. Nevertheless, it was formally denied, saying there have been “no lively” merger and acquisition talks.

Preserve Studying

The mortgage utilizing HOOD as collateral was taken days earlier than the collapse of FTX. The media report highlighted that Bankman-Fried was to promote his Robinhood stakes even after collateralizing them with BlockFi.

The Shatters from FTX Collapse

BlockFi initially denied any impact on its enterprise after the collapse of FTX. Nevertheless, the platform suspended all actions, together with withdrawals, inside solely a few days, hinting at its publicity to FTX.

The enterprise vulnerabilities of BlockFi had been uncovered on Monday when the corporate filed for chapter, citing “a extreme liquidity crunch” triggered by the failure of FTX. Additional, in early November, Alameda Analysis defaulted on $680 million collateralized loans from BlockFi.

In the meantime, BlockFi additionally acquired a $400 million credit score facility from FTX US final July, giving the alternate proper to amass the lending platform. The phrases of the acquisition deal would depend upon particular efficiency phrases.

BlockFi detailed within the chapter submitting that it has belongings between $1 billion and $10 billion and liabilities in the same vary. The corporate has over 100,000 collectors.

BlockFi, which filed for chapter safety on Monday, is taking Sam Bankman-Fried’s Emergent Constancy Applied sciences to court docket for seizing Robinhood shares (HOOD) pledged to the crypto lending platform as collateral.

The lawsuit got here solely hours after BlockFi filed for chapter proceedings and in addition in america Chapter Courtroom for the District of New Jersey, which is overseeing the chapter proceedings.

Seize your copy of our newest Quarterly Intelligence Report for Q3 2022 earlier than your rivals and keep up-to-date with essential developments within the Foreign exchange and CFD trade!

In response to the court docket paperwork, BlockFi and Emergent Constancy Applied sciences agreed on November 9 to ensure the cost by an unnamed borrower by pledging unnamed frequent shares. A Monetary Instances report revealed that the borrower from BlockFi is Bankman-Fried’s Alameda Analysis, and the pledged shares are of Robinhood.

Bankman-Fried acquired a 7.6 p.c stake in Robinhood earlier this yr for $648 million, with rumors of him buying a controlling stake within the on-line dealer. Nevertheless, it was formally denied, saying there have been “no lively” merger and acquisition talks.

Preserve Studying

The mortgage utilizing HOOD as collateral was taken days earlier than the collapse of FTX. The media report highlighted that Bankman-Fried was to promote his Robinhood stakes even after collateralizing them with BlockFi.

The Shatters from FTX Collapse

BlockFi initially denied any impact on its enterprise after the collapse of FTX. Nevertheless, the platform suspended all actions, together with withdrawals, inside solely a few days, hinting at its publicity to FTX.

The enterprise vulnerabilities of BlockFi had been uncovered on Monday when the corporate filed for chapter, citing “a extreme liquidity crunch” triggered by the failure of FTX. Additional, in early November, Alameda Analysis defaulted on $680 million collateralized loans from BlockFi.

In the meantime, BlockFi additionally acquired a $400 million credit score facility from FTX US final July, giving the alternate proper to amass the lending platform. The phrases of the acquisition deal would depend upon particular efficiency phrases.

BlockFi detailed within the chapter submitting that it has belongings between $1 billion and $10 billion and liabilities in the same vary. The corporate has over 100,000 collectors.



Source link

Tags: BankmanFriedBitcoin NewsBlockFiCollateralsCrypto NewsCrypto UpdatesLatest News on CryptoRobinhoodSamSB Crypto Guru NewsStockSues
Previous Post

LINK Hits 20-Day Excessive, DOGE Rebounds From Monday’s Losses – Market Updates Bitcoin Information

Next Post

Actuality Of Bukele’s Bitcoin El Salvador – Bitcoin Journal

Related Posts

21Shares Seeks Approval For First Spot ONDO ETF

21Shares Seeks Approval For First Spot ONDO ETF

by SB Crypto Guru News
July 24, 2025
0

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure Ondo Finance is back in the spotlight...

CoinShares Approved Under MiCA, Boosts EU Crypto Presence

CoinShares Approved Under MiCA, Boosts EU Crypto Presence

by SB Crypto Guru News
July 23, 2025
0

Enjoyed this article? Share it with your friends! CoinShares has received approval from France’s financial regulator to operate under European...

Bitcoin Stalls But Stocks Jump After Trump’s Japan Deal

Bitcoin Stalls But Stocks Jump After Trump’s Japan Deal

by SB Crypto Guru News
July 23, 2025
0

U.S. President Donald Trump called it “the largest trade deal in history,” but Tuesday’s agreement with Japan didn’t elicit a...

Solana Surges Above 0, Token6900 Meme Coin Raises M in Presale, and Polymarket Returns to the US

Solana Surges Above $200, Token6900 Meme Coin Raises $1M in Presale, and Polymarket Returns to the US

by SB Crypto Guru News
July 23, 2025
0

Live Best Meme Coins Updates Today: Solana Surges Above...

Altcoin Season Picks Up — TOKEN6900 Nears M Raised Among Notable New Tokens

Altcoin Season Picks Up — TOKEN6900 Nears $1M Raised Among Notable New Tokens

by SB Crypto Guru News
July 23, 2025
0

Altcoin season has officially arrived, and investors are on the hunt to find the next breakout token that has the...

Load More
Next Post
Actuality Of Bukele’s Bitcoin El Salvador – Bitcoin Journal

Actuality Of Bukele’s Bitcoin El Salvador - Bitcoin Journal

Celo Sees 42% Positive aspects In Final Week As The Broader Crypto Market

Celo Sees 42% Positive aspects In Final Week As The Broader Crypto Market

Facebook Twitter LinkedIn Tumblr RSS

CATEGORIES

  • Altcoin
  • Analysis
  • Bitcoin
  • Blockchain
  • Crypto Exchanges
  • Crypto Updates
  • DeFi
  • Ethereum
  • Metaverse
  • Mining
  • NFT
  • Regulations
  • Scam Alert
  • Uncategorized
  • Web3

SITE MAP

  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us

Copyright © 2022 - SB Crypto Guru News.
SB Crypto Guru News is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • HOME
  • BITCOIN
  • CRYPTO UPDATES
    • GENERAL
    • ALTCOINS
    • ETHEREUM
    • CRYPTO EXCHANGES
    • CRYPTO MINING
  • BLOCKCHAIN
  • NFT
  • DEFI
  • WEB3
  • METAVERSE
  • REGULATIONS
  • SCAM ALERT
  • ANALYSIS

Copyright © 2022 - SB Crypto Guru News.
SB Crypto Guru News is not responsible for the content of external sites.