Private Jets and political cash seized from FTX CEO SBF

A federal court released information concerning the extent of the asset seizing from Sam Bankman-Fried, the CEO of the defunct crypto exchange FTX.

A recently released final order of forfeiture filed by the United States District Court of the Southern District of New York removed Fried’s ownership of his assets. The document features a list of seized assets including the crypto holdings of trading firm Alameda Research.

Alameda’s assets held at the world’s top crypto exchange Binance included $56 million worth of XRP, $3.6 million of Tron (TRX), $3.4 million of Cardano (ADA), $2.3 million worth of Bitcoin (BTC.) Dozens of other assets were also held on the platform.

A sizable value was derived from the sale of stock held in the United States retail trading platform Robinhood. This resulted in $606 million held by Bankman-Fried’s Emergent Fidelity Technologies.

Other financial assets that were seized from Fried include $119 million in Tether (USDT), $21 million at financial services firm Marex, $50 million at Moonstone Bank, $101 million at crypto bank Silvergate and $7 million at Flagstar Bank.

Fried also lost two private jets, a 2009 Bombardier Global 5000 and a 2006 Embraer Legacy. Court documents list 250 political donations that had been pulled back from the campaigns as well as the organizations that received them.

Those organizations include amounts that other FTX executives allegedly gave under Fried’s command. At the height of his political contributions, one in three United States Congress members received money from Fried or other FTX executives. A long list of state political organizations were also funded.

The news follows reports that FTX planned to distribute claims held by “convenience class” creditors on Feb. 18. Reports are now circulating that funds are already being distributed, but this early repayment is limited to “convenience class” creditors who are owed under $50,000.

Arkham Intelligence pointed to FTX’s wallet outflows as evidence of the payments, which it says are expected to total around $1.2 billion. The funds are being distributed through crypto exchanges Kraken and BitGo.

The post Private Jets and political cash seized from FTX CEO SBF appeared first on ReadWrite.