FTX founder SBF seized $1 billion in assets, including private jets and multiple political donations

According to CoinDesk, a US federal court issued a final confiscation order on Tuesday, officially depriving FTX exchange founder Sam Bankman Fried (SBF) of ownership of his assets and confirming the final total amount of these assets. The property list in the document is dozens of pages long, including cryptocurrencies, stocks, private planes, and political donations.

The cryptocurrency portion includes assets of Alameda Research, an FTX affiliated trading company, on the Binance exchange: $56 million worth of XRP, $3.6 million worth of TRX, $3.4 million worth of ADA, $2.3 million worth of Bitcoin (btc), and dozens of other tokens.

The most valuable asset came from the sale of Robinhood stock for $606 million, and prosecutors believe that FTX used customer funds to purchase these stocks. In May 2022, SBF Gary Wang, another founder of FTX, borrowed directly from Alameda through Emergent Fidelity Technologies to purchase 55 million shares of Robinhood stock. Later, Robinhood's board of directors approved a plan to repurchase these shares after the collapse of FTX.

Other financial assets include:

Alameda $119 million USDT stablecoin held by Binance, $21 million held by Emergent Fidelity Technologies on financial services platform Marex, $50 million held by FTX Digital Markets on financial institution Moonstone Bank, $101 million held by FTX Digital Markets on Silvergate Bank, and $7 million held by another individual on Flagstar Bank

In addition, SBF The confiscated assets include two private planes: Bombardier Global 5000 in 2009 and Embracer Legacy in 2006.

The court documents also detailed over 250 political donations recovered from election campaigns and some organizations that received donations, including funds allegedly provided by other FTX executives under the direction of SBF.

Also on Tuesday, FTX The bankruptcy restructuring team has begun the first batch of compensation process, disbursing funds to creditors who belong to the convenience category (debt amount less than $50000) and have completed the claim procedure. These creditors can receive approximately 119% of the original deposit funds, which are expected to be received within 1 to 3 working days. FTX It is also announced that the expected date for the next distribution is April 11, 2025, applicable to creditors with larger amounts.