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Saturday, February 4, 2023
HomeCryptocurrencyElon Musk And Dogecoin (DOGE) Co-Founder Touch upon Feds Confiscating $700 Million...

Elon Musk And Dogecoin (DOGE) Co-Founder Touch upon Feds Confiscating $700 Million From FTX’s SBF

Contents

  • Robinhood shares, Binance and banks deposits of SBF
  • Elon Musk turned down SBF $5 billion supply

A latest article by Reuters acknowledged that prosecutors from the DOJ have confiscated a staggering $700 million from the creator of the battered FTX trade Sam Bankman-Fried (extensively recognized within the crypto house as SBF). The supply cited by the article is Friday court docket submitting.

Dogecoin co-founder Billy Markus shared the article on his Twitter deal with, including a sarcastic remark, through which he cited SBF, when the FTX founder instructed the court docket that he solely had $100,000 left from his billions. The above talked about funds confiscated from SBF got here largely within the type of Robinhood shares.

Tesla and Twitter boss, tech mogul Elon Musk commented on that with two ROFL emojis. Each Musk and Markus have been extremely essential of FTX and its founder when the trade went bancrupt and SBF was charged with defrauding buyers.

Robinhood shares, Binance and banks deposits of SBF

SBF has been charged with utilizing big sums in USD belonging to FTX customers in an try to bail out his crypto buying and selling agency Alameda Analysis, however he pleaded harmless to these fraud fees. He will likely be going through trial within the fall of this yr on this.

Earlier this yr, the U.S. Division of Justice (DOJ) introduced the seizure of Bankman-Fried’s property. The lion share of them was within the type of Robinhood shares (HOOD), nonetheless, there have been additionally funds in a number of banks and crypto deposits on the Binance digital trade.

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Specifically, this week federal prosecutors from the DOJ seized almost $100 million from SBF’s accounts, which he saved in Silvergate Financial institution linked to FTX Digital Markets, an FTX subsidiary based mostly within the Bahamas.

Elon Musk turned down SBF $5 billion supply

As reported by U.At this time earlier, final yr, properly earlier than FTX bother grew to become apparent to everybody available in the market, Sam Bankman-Fried received in contact with Elon Musk to supply him an funding of $5 billion to assist him purchase the social media large. He additionally supplied assist in switching Twitter to blockchain rails.

Musk defined to him that Twitter on blockchain was an unimaginable factor to do and turned down his supply with the cash. General, Musk paid $44 billion to turn into the only proprietor of Twitter, the deal was finalized in late October final yr.

BitcoinMasterNews

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