News/FTX Cofounders' Robinhood Shares Worth about $456 Million Seized

FTX Cofounders' Robinhood Shares Worth about $456 Million Seized

Jan 09,2023,22:24

The U.S. Department of Justice (DOJ) has seized more than 55 million shares of Robinhood (HOOD) stock owned – via a holding company – by Sam Bankman-Fried and his FTX co-founder Gary Wang, according to a court document. The shares were worth just over $456 million based on HOOD's closing price of $8.25 on Friday.

The stock had been held at an account at U.K.-based brokerage ED&F Man.

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