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BlockFi Looks to Dismiss Bankruptcy Case for SBF’s Robinhood Shell Company

Bankrupt crypto lender BlockFi on Thursday moved to strike out the bankruptcy case of Emergent Fidelity Technologies, as a battle over around $600 million in assets mainly owned by FTX founder Sam Bankman-Fried becomes ever more complex.

Emergent, an Antiguan shell company 90% owned by Bankman-Fried, owns 56 million shares of online broker Robinhood (HOOD) plus some cash, and apparently little else.

Those assets are now the subject of a legal tussle between FTX, BlockFi, and the Department of Justice and the Robinhood Board itself– and BlockFi believes Emergent’s Antiguan liquidators are making it even more complex by filing for Chapter 11 bankruptcy in the U.S.

(By Jack Schickler)

Related News:

Bitfarms Pays Down $21 Million BlockFi Loan With $7.75 Million in Cash

Bankrupt Crypto Lender BlockFi Takes Two-Thirds Haircut to Settle Bitcoin Miner Bitfarms' Debt

BlockFi’s $10M Staff Bonus Package Approved by New Jersey Judge

Robinhood Wants to Buy Its Shares Back From Sam Bankman-Fried

Judge Alludes to Possibility of SBF Bail Reversal

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