2022-12-29
According to court documents. It states that Sam Bankman-Fried has borrowed $546 million from Alameda Research to buy shares of Robinhood (HOOD)
SBF's Robinhood shares have caught the attention of BlockFi, suing SBF for a million-dollar stake in Robinhood. However, to stop such BlockFi efforts, FTX asked a bankruptcy judge. Stop BlockFi from taking over Robinhood's shares.
As detailed from testimony provided to the Caribbean court, SBF and Gary Wang borrowed $546 million through promissory note (PN) loans from Alameda Research in April and May, with the borrowed money being used to buy a 7.6% stake in Robinhood in May.
Source link: cointelegraph
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