Sam Bankman-Fried’s Stock is Purchased by Robinhood for $605 Million.


Sam Bankman-Fried and Gary Wang’s shares in the cryptocurrency trading company Robinhood were successfully repurchased from the US Marshal Service.

Through Emergent Fidelity Technologies, FTX founders Bankman-Fried and Wang controlled 55 million shares in Robinhood; these shares were seized as part of the criminal prosecution against Bankman-Fried. On December 30, 2022, a warrant was issued to seize these shares. They were moved to the US on January 4 and a sale request was made on August 13 of same year.

Stay in the know on crypto by frequently visiting Crypto News Today

In a deal with the US Marshal Service, Robinhood paid $605 million to repurchase these shares.

Bankman-Fried and his attorneys have previously opposed the FTX bankruptcy estate’s claim on these shares, arguing in particular that while FTX clients only ran the risk of “economic loss,” Bankman-Fried ran the risk of suffering “irreparable” harm from possibly not being able to use these funds to support his criminal defense.

CryptoCaster Quick Check:

Wang has previously entered a plea of guilty to the charges of securities fraud, commodities fraud, wire fraud, and conspiracy to commit wire fraud.

Bankman-Fried is accused of a number of other offenses as well, but thus far he has maintained his innocence.CRYPTOCASTER® - DECENTRALIZED FREEDOM!

We hope you appreciated this article. Before you move on, I was hoping you would consider taking the step of supporting CryptoCaster’s journalism. 

From  Elon Musk, Larry Fink(BlackRock) to Jamie Dimon(JP Morgan Chase) a number of billionaire owners have a powerful hold on so much of the hidden agendas’ which eludes the public concerning the paradigm shift juxtaposed by cryptocurrency and web3 emerging technologies. CryptoCaster is different. We have no billionaire owner or shareholders to consider. Our journalistic efforts are produced to serve the public interest in crypto development and institutional disruptions – not profit motives.

And we avoid the trap that befalls much U.S. and global media – the tendency, born of a desire to please all sides, to engage in false equivalence in the name of neutrality and retail consumer protection. While fairness and transparency dictates everything we do, we know there is a right and a wrong position in the fight against fiat global banking interest and monetary reconstruction precipitated by the emerging crypto ecology.

When we report on issues like the FTX, Binance and Ripple crisis, we’re not afraid to name who or what is uncovered. And as a crypto sentinel, we’re able to provide a fresh, outsider perspective on the global monetary disruption – one so often missing from the insular American and European media bubble. 

Around the world, readers can access the CryptoCaster’s paywall-free journalism because of our unique reader-supported model. That’s because of people like you. Our readers keep us independent, beholden to no outside influence and accessible to everyone – whether they can afford to pay for news and information, or not.

We thankyou for the on-going support our readers have bestowed monetarily. If you have not considered supporting CryptoCaster, if you can, please consider supporting us just once from $1 or more of Bitcoin (satoshi) or Eth, and better yet, support us every month with a little more. Scroll further down this page to obtain CryptoCaster’s wallet addresses.

Thank you.

Kristin Steinbeck
Editor, CryptoCaster

Please Read Essential Disclaimer Information Here.
© 2024 Crypto Caster provides information. does not provide investment advice. Do your research before taking a market position on the purchase of cryptocurrency and other asset classes. Past performance of any asset is not indicative of future results. All rights reserved.

Contribute to CryptoCaster℠ Via Metamask or favorite wallet. Send Coin/Token to Addresses Provided Below.
Thank you!
BTC – bc1qgdnd752esyl4jv6nhz3ypuzwa6wav9wuzaeg9g
ETH – 0x7D8D76E60bFF59c5295Aa1b39D651f6735D6413D
MATIC – 0x7D8D76E60bFF59c5295Aa1b39D651f6735D6413D
LITECOIN – ltc1qxsgp5fykl0007hnwgl93zr9vngwd2jxwlddvqt


You may also like