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United States asserts ownership of $700 million in assets linked to Bankman-Fried and FTX

The US government wants to seize roughly $700 million in assets seized from former FTX CEO Sam Bankman-Fried earlier this month. The property includes about 55 million Robinhood shares, which are worth about $525 million. The conflict between Bankman-Fried, FTX Group, and BlockFi was centred around those shares, which were acquired with Alameda funds that were borrowed. Additionally, authorities are aiming to take $171 million in cash from a number of bank accounts connected to the Bankman-web Fried’s of businesses. The government confiscated those assets and other ones in early January, according to a bill of particulars filed late Friday in Bankman-criminal Fried’s case, and is now requesting their forfeiture.

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