{"id":37582,"date":"2024-09-11T08:41:25","date_gmt":"2024-09-11T08:41:25","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/ftx-resolves-robinhood-share-conflict-with-emergent-agreement\/"},"modified":"2024-09-11T08:41:25","modified_gmt":"2024-09-11T08:41:25","slug":"ftx-resolves-robinhood-share-conflict-with-emergent-agreement","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/ftx-resolves-robinhood-share-conflict-with-emergent-agreement\/","title":{"rendered":"FTX Resolves Robinhood Share Conflict with Emergent Agreement"},"content":{"rendered":"<p><b>(Originally posted on : Crypto News &#8211; iGaming.org )<\/b><br \/>\n<\/p>\n<div>\n<p>A settlement has been reached between FTX and Emergent Fidelity Technologies regarding the ownership dispute of <a href=\"https:\/\/igaming.org\/crypto\/robinhood-regains-stock-from-ftx-founders-for-605-7m\/\">$600 million worth<\/a> of shares in Robinhood. Sam Bankman-Fried co-founded Emergent, which was in odds with FTX over the 55 million Robinhood shares that the US Justice Department seized after FTX failed in 2022.<\/p>\n<p>FTX will reimburse Emergent $14 million for administrative costs as part of the settlement. Emergent will relinquish its claim to the Robinhood shares and associated funds in exchange. The goal of the settlement, which FTX CEO John Ray III filed in Delaware Bankruptcy Court on September 6, is to expedite the Emergent bankruptcy in Antigua process.<\/p>\n<p>John Ray III commented on the negotiations, stating that they were done in \u201cgood faith arm\u2019s length negotiations\u201d and without any collusion. The settlement is a major move in FTX\u2019s reorganization strategy, which focuses on maximizing value for its creditors. By resolving this dispute, FTX hopes to reduce further legal expenses and expedite fund recovery.<\/p>\n<h2>Robinhood Shares and the Legal Battle<\/h2>\n<p>The 55 million Robinhood shares were originally purchased by Emergent through an arrangement between <a href=\"https:\/\/igaming.org\/crypto\/bankman-frieds-secured-personal-stake-in-robinhood-by-controversial-alameda-loan\/\">Bankman-Fried and Alameda Research<\/a>, his crypto trading firm. Since FTX\u2019s downfall in November 2022, several parties, including FTX, BlockFi, and Bankman-Fried himself, have attempted to claim the shares.<\/p>\n<p>The U.S. Department of Justice seized the shares in January 2023. By September 2023, the shares were sold back to Robinhood for approximately $606 million. A hearing regarding the settlement is scheduled for October 22.<\/p>\n<div class=\"main-org-3-item-ins box-100 relative mb-4\">\n<div class=\"space-org-3-items box-100 relative\">\n<div class=\"box-100 space-org-3-item relative border-tb mt-1 \">\n<div class=\"space-org-3-item-ins box-100 relative\">\n<div class=\"space-org-3-item-terms box-25 relative\">\n<div class=\"space-org-3-item-terms-ins box-100 text-center relative\"> <strong><strong>250% Extra + $125 Free Chip!<\/strong><\/strong> <\/p>\n<p>New players only. 250% on 1st Deposit + $125 Free Chip<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div><\/div>\n<p><a href=\"https:\/\/igaming.org\/crypto\/ftx-resolves-robinhood-share-conflict-with-emergent-agreement\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : Crypto News &#8211; iGaming.org ) A settlement has been reached between FTX and Emergent Fidelity Technologies regarding the ownership dispute of $600 million worth of shares in Robinhood. Sam Bankman-Fried co-founded Emergent, which was in odds with FTX over the 55 million Robinhood shares that the US Justice Department seized after [&hellip;]<\/p>\n","protected":false},"author":34,"featured_media":37583,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[34],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/37582"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/34"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=37582"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/37582\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/37583"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=37582"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=37582"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=37582"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}