Sam-Bankman Fried's $440 million worth of Robinhood stocks are under threat from FTX.

John J. Ray III, the new CEO of FTX, submitted a request in a U.S. Sam Bankman-Fried owns 56 million shares in Robinhood Markets, valued at $440 million, and on Thursday, the insolvency court ordered an automatic stay to be implemented or the stay measures to be extended. According to FTX's inquiry, the cryptocurrency exchange firm and its subsidiaries own the stocks of Robinhood.

On December 22, a court document stated that FTX had submitted a motion in the United States. For the District of Delaware, bankruptcy proceedings. The exchange asserts that the 56 million shares of Robinhood that SBF purchased are FTX's assets and therefore must remain frozen again until demands of rival creditors are settled.

BlockFi, a cryptocurrency lender, and Yonathan Ben Shimon, an independent creditor, are pursuing different legal cases in New Jersey and Antigua to take ownership of the shares. In December, just before his incarceration, Sam Bankman-Fried made an additional attempt to take ownership of Robinhood shares. SBF's petition in an Antigua court still seems to be unresolved, and he can try to seize possession of $440 million worth of Robinhood shares.

Whereas the business seeks to come up with a plan to pay off all of its creditors, FTX asks the bankruptcy court in charge of the matter to demand that the shares be frozen. According to FTX, Robinhood shares are kept in a trading account at EDFM for Emergent Fidelity Technologies, a non-debtor. Sam Bankman-Fried owns 90% of Emergent and doesn't seem to be involved in any other businesses.

Sam Bankman-Fried is freed after posting bail

SBF was freed on a $250 million bond bail on Thursday, but the FTX debtor is still attempting to take possession of assets connected to FTX and Alameda Research. The bond was prearranged, and SBF was put under house arrest at the Palo Alto home held by his parents, eminent Stanford University law professors Joseph Bankman and Barbara Fried.

Strangely, the price of FTX Token (FTT) increased by almost 15% following SBF's departure. The price of FTT is presently $0.9831. The 24-hour low and high are, correspondingly, $0.8356 and $1.13.

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