Robinhood bought back Sam Bankman-Fried’s stake from US govt for $606M
The purchase of the 55 million Robinhood shares had been expected following approval from the company's board and a U.S. district court.
Auto Added by WPeMatico
The purchase of the 55 million Robinhood shares had been expected following approval from the company's board and a U.S. district court.
The agreement in-principle reached by DCG and creditors also said that the Ad Hoc Group and Gemini did not support the deal.
The lending platform halted client withdrawals amid filing for bankruptcy in November 2022, but later petitioned the court for authorization to return user funds.
Months before Prime Trust filed for Chapter 11 bankruptcy, online sleuths in the crypto community were on the case and continue to follow the money.
The crypto custodian's bankruptcy comes as it's been unable to honor customer withdrawals for months.
The settlement was reached in July and, if the customers agree, it will go before the court for approval in October.
Lawyers for Kyle Davies filed evidence that his U.S. citizenship had been renounced in 2021, which, according to a bankruptcy judge, left him outside the court's jurisdiction.
If the plan is approved, Core Scientific could buy 27,000 Bitmain miners for roughly $23 million in cash and $54 million in company equity.
If approved, the deal would see a capital injection of nearly $30 million worth of FLEX tokens into Hodlnaut to partially cover creditors' payout and outstanding claims.
Digital Currency Group (DCG) is reportedly under investigation in New York for financial transactions involving its subsidiary, Genesis Global Capital.