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- A federal court has seized over $1 billion in assets from Sam Bankman-Fried, including $606 million in Robinhood stock, cryptocurrencies, private jets, and political donations.
- This is according to a final order of forfeiture issued by the U.S. District of New York on Tuesday.
Developments on the SBF case from a federal court confirmed that more than $1 billion worth of assets under Sam Bankman-Fried had been seized. This is what is considered the final order of forfeiture issued by the U.S. District of New York on Tuesday, February 18th, 2025. This $1 tally includes a long list of assets, including the $606 million from Robinhood’s buyback shares and two private jets.
According to the report, the assets are extensive and include several seized donations to politicians. The detailed 70-page document confirmed in detail stocks, cryptocurrencies, bank holdings, private jets, and political contributions that had already been seized before SBF was tried for Fraud.
The Extensive Assets seized
Aside from the two airplanes owned by SBF, the 2009 Bombardier Global 5000 and the 2006 Embraer Legacy, and the $606 million from the sale of Robinhood stock held by Bankman-Fried’s company, there is more. According to the document, there are more than 250 political donations that have been recovered some of it made through SBF’s directors. An excerpt from the document read:
“Any and all political contributions made by Nishad Singh that proceed traceable to the wire fraud and wire fraud conspiracy offenses charged in Counts One through Four of the Indictment or property involved in money laundering offense charged in Count Seven of the Indictment”
Alameda Research, a cryptocurrency trading firm owned by SBF, is also mentioned in the extensive document. Among other tokens, Alameda’s assets include:
- $56 million in Ripple (XRP) held at Binance
- $3.6 million in Tron (TRX)
- $3.4 million in Cardano (ADA)
- $2.3 million in Bitcoin (BTC)
- $119 million in Tether (USDT) at Binance for Alameda Research
According to the document, multiple financial accounts tied to FTX Digital Markets and Emergent Fidelity Technologies were seized, including:
- $21 million at Marex
- $50 million at Moonstone Bank
- $101 million at Silvergate
- $7 million at Flagstar Bank
This comes after a report by CNF indicated that the first $1.2 billion payments to creditors started on Tuesday 18th Feb, 2025 starting with the claims made by the users of up to $50,000. Creditors are expected to get 119% of the initial balance right before the collapse of FTX.
It is estimated that one in three members of Congress at one point in the last session received funds from FTX executives. The donations also extended to various state-level political organizations, further demonstrating the extent of his influence.
