The newly-bankrupt BlockFi is taking SBF’s Emergent Fidelity Technologies investment company to court attempting to win roughly $650M worth of Robinhood shares it says it’s owed.
Newly-bankrupt crypto lending platform BlockFi has filed a lawsuit against Sam Bankman-Fried’s holding company Emergent Fidelity Technologies seeking his shares in Robinhood that were pledged as collateral earlier in November.
The suit was filed on Nov. 28 in the United States Bankruptcy Court for the District of New Jersey just hours after BlockFiAs per the filing, BlockFi is demanding Emergent turnover collateral as part of a Nov. 9 pledge agreement that saw Emergent agree to a payment schedule with BlockFi that it has allegedly failed to pay.in the online brokerage firm Robinhood, buying a total of $648 million in Robinhood shares through his Emergent investment company.
In its bankruptcy filing, BlockFi stated that it has assets between $1 billion and $10 billion with liabilities in the same range, along with over 100,000 creditors.
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