Bankman-Fried fights to keep $453 million in Robinhood shares after government seizure

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“The FTX Debtors seek to disregard the separate existence of a corporation that is not a party to this action and encumber hundreds of millions of dollars’ worth of assets to which they have no legal claim,” they wrote. “The withholding of costs necessary to an adequate criminal defense can constitute irreparable harm […] Conversely, the FTX Debtors face only the possibility of economic loss.”

At the time, FTX attorney James Bromley conceded that it was an “open question” who owns the Robinhood shares. On Dec. 22, FTX asked a U.S. court to freeze the Robinhood shares to block BlockFi’s claim on them after the bankrupt crypto lender filed a motion to sue Emergent for the shares, arguing that Alameda had pledged the stock to back $680 million in loans promised to BlockFi.

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