FTX founder’s $700 million assets seized

About $700 million in assets of Sam Bankman-Fried, the founder and former CEO of cryptocurrency exchange FTX, who is on trial for 8 crimes including fraud and money laundering, has been seized.

New York Southern District Attorney Damian Williams has identified 10 accounts of stocks, cash and cryptocurrencies to be seized, according to court records.

According to the news of AA; In this context, approximately $700 million in assets of Bankman-Fried were confiscated. If found guilty of fraud, Bankman-Fried will cease to exist in question.


Cryptocurrency exchange FTX started to experience liquidity problems at the beginning of November last year after problems with its rival and the world’s largest crypto exchange Binance.

FTX on November 11, 2022 USAIt was announced that the company started the bankruptcy process in , and the CEO of the company, Sam Bankman-Fried, also resigned. Sam Bankman-Fried was detained in the Bahamas on December 12, 2022, after the United States filed a criminal complaint.

In the US, federal prosecutors had filed indictments against Bankman-Fried for various crimes, including fraud, violation of financial laws, and money laundering.

It was decided that Bankman-Fried, who was handed over to the USA on December 21, 2022, would be released on $250 million bail until the hearing.

Bankman-Fried, who is on trial for 8 crimes, including fraud and money laundering, denied the charges against him at a hearing in New York’s Southern District Court in early January.