Blockfi sues Sam Bankman-Fried for Robinhood shares

The bankrot cryptocurrency loan blockfi sues Sam Bankman-Fried for shares in Robinhood, which the FTX founder allegedly pledged as security at the beginning of this month.

Just a few hours after the application for bankruptcy protection, Blockfi sued Bankman-Frieds Vehikel Emergent Fidelity Technologies, which requires that he do not hand over any more detailed collateral, says Blockfi that they are owed. The lawsuit was submitted to the same court in New Jersey, in which Blockfi initiated the insolvency proceedings.

The security in question is Bankman-Fried's participation in Robinhood, the online trading company, according to loan documents that are available to the Financial Times. At the beginning of this year he bought 7.6 percent from Robinhood.

The dispute is the latest blow to Bankman-Fried, whose 32 billion dollar-ftx empire collapsed this month in the greatest bankruptcy of this year's crisis on the cryptoma markets. Authorities in the USA and on the Bahamas, where FTX had its headquarters, have initiated investigations.

The bankruptcy application from Blockfi throws further light on the fall of Bankman-Fried and shows that his failed crypto trade company Alameda Research in early November with secure loans of $ 680 million.

The complaint claims that Blockfi had made an agreement with Emergent on November 9 to guarantee the payment obligations of an unnamed borrower by pledging certain “regular shares” as security.

In early November, the Financial Times reported that Bankman-Fried had tried privately in the days before FTX's bankruptcy request on November 11 to sell the Robinhood shares via the safe messaging app.

Blockfi also called the broker Ed & F Man Capital Markets and said that the company based in London was the broker involved in the deposit agreement. ED & F Man has "refused to transfer the collateral to Blockfi," says the lender's complaint.

Blockfi, Bankman-Fried and Ed & F did not immediately answer to inquiries about comments.