Is Robinhood FTX's property or Bankman-fried's?

Lawyers for the collapsed crypto exchange, which is trying to track down funds to pay creditors, told the Delaware court that it believes the Robinhood stake held by Emergent is FTX's property, rather than Bankman-Fried's.

Did Bankman-fried pledge his shares in Robinhood?

Complicating matters in the case is a claim from crypto lenderBlockFi that Bankman-Fried pledged his shares in Robinhood to them. In November 2022, the Financial Times reported that the newly bankrupted BlockFi sued Bankman-Fried to obtain shares of Robinhood he allegedly pledged to the company as collateral earlier that month.

Is Robinhood a debtor's property?

"The debtors are conducting an investigation into the business affairs of the FTX group," they said in the filing. "This investigation to date indicates that the Robinhood shares are property of the debtors' estates, held only nominally by Emergent."

Does Robinhood need a bailout?

And for the moment, Robinhood doesn’t need a bailout. What it really needs is a brand refresh due to the deep interlinks with Citadel Securities that everyone who lost money has become conspiratorial about — but is a Bahamas-based token exchange really the firm to do that job? In this economy?