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Published 1 year ago

FTX's Sam Bankman-Fried Borrowed From Alameda to Buy Robinhood Shares

Summary by Ground News
FTX founder Sam Bankman-Fried borrowed hundreds of millions of dollars from his own trading firm, court documents show. The funds went into Emergent Fidelity Technologies, which was the shell corporation that acquired a 7.6% stake in Robinhood. Later, Alameda took out a loan and pledged those same shares as collateral, CoinDesk said.

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