Cryptocurrency lender BlockFi is suing FTX_Official Founder SBF_FTX's Emergent Fidelity Technologies for RobinhoodApp shares held by the company and pledged to BlockFi as collateral.
says BlockFi and Emergent Fidelity Technologies entered an agreement on Nov. 9 to guarantee payment by an unnamed borrower, pledging an unnamed common stock as collateral. The FT, citing legal correspondence, reported that the borrower was Bankman-Fried's Alameda Research.
Bankman-Fried, trying to raise money before FTX's collapse, was still trying to sell his Robinhood shares after entering into the collateral agreement with BlockFi, the FT cited two people familiar with the matter as saying.
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