FTX, a failed cryptocurrency exchange, has asked a bankruptcy court to keep $450 million worth of Robinhood shares frozen as three parties fight for control of the assets.
FTX lawyers claim that the shares, which are currently frozen in a brokerage account in New York City, are owned by Emergent Fidelity Technologies, the holding company of former FTX chief Sam Bankman-Fried in Antigua and Barbuda.
Bankrupt crypto lender BlockFi, FTX creditor Yonathan Ben Shimon, and SBF have all filed court actions to gain control of the shares.
Bankman-Fried made his first appearance in court on Thursday and was released on a $250 million bail package.
At FTX’s first bankruptcy hearing last month, an attorney for the company claimed that it was run as a “personal fiefdom” by Bankman-Fried and that a “substantial amount of assets” had been stolen or gone missing.