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Feds Seize Additional $150 Million in FTX Assets in Case Against Co-Founder

Sam Bankman-Fried was charged with eight counts of money laundering and fraud last month.

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David Lumb Mobile Reporter
David Lumb is a mobile reporter covering how on-the-go gadgets like phones, tablets and smartwatches change our lives. Over the last decade, he's reviewed phones for TechRadar as well as covered tech, gaming, and culture for Engadget, Popular Mechanics, NBC Asian America, Increment, Fast Company and others. As a true Californian, he lives for coffee, beaches and burritos.
Expertise smartphones, smartwatches, tablets, telecom industry, mobile semiconductors, mobile gaming
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David Lumb
Sam Bankman-Fried
Stephanie Keith/Bloomberg via Getty Images

Federal prosecutors have seized $150 million in assets associated with FTX cryptocurrency exchange co-founder Sam Bankman-Fried, a new court document reveals. This makes for a combined nearly $700 million in stocks, cash and other assets locked down by the feds in relation to the case.

In early January, feds made an initial asset seizure of over 55 million shares of Robinhood stock and $20 million in cash. In the weeks since, prosecutors secured over $150 million in cash held in FTX's name but split among different banks, according to the document. 

Bankman-Fried was charged with eight counts of money laundering and fraud last month, to which he pleaded not guilty. Two of his lieutenants at the cryptocurrency exchange have pleaded guilty to their own fraud charges and are said to be cooperating with investigators. 

In a separate investigation, the Department of Justice is investigating $370 million in FTX assets that went missing hours after the exchange declared bankruptcy.

Read more: The Fall of FTX and Sam Bankman-Fried: A Timeline