A federal judge will seize approximately $93 million in funds from FTX Digital Markets' account at Silvergate

2023-01-05 09:25:11

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ChainCatcher news indicates that, according to a court document from Wednesday, U.S. Federal Judge (Katharine Parker) has ordered the seizure of approximately $93 million in funds from FTX Digital Markets' account at Silvergate after freezing Robinhood shares related to FTX and BlockFi.

The document also notes that the Bahamian liquidators, who filed for separate bankruptcy in New York, have requested Silvergate to transfer funds related to FTX "to ensure the safety of the assets," but Silvergate responded that the request from the Bahamian liquidators is meaningless since FTX's accounts have already been seized by regulators. Analysts believe that this series of actions by the U.S. federal court may complicate the process for FTX customers to recover their funds. (source link)

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