SBF: Only $100,000 under his name, over $700 million confiscated

ChainCatcher news reports that according to former FTX CEO SBF, he had only about $100,000 left after the company went bankrupt and he was arrested on fraud charges. However, over $700 million in assets have been seized by U.S. federal prosecutors, believed to be stored in accounts belonging to SBF himself or FTX.

The U.S. Securities and Exchange Commission (SEC) stated in a recent announcement: "SBF orchestrated a years-long massive fraud, misappropriating billions of dollars in customer funds from the trading platform for personal gain and helping to grow his cryptocurrency empire."

SBF claimed that at the time of his company's initial collapse, he had only $100,000 to his name. Currently, up to 10 independent accounts belonging to SBF have been frozen, containing significant assets including cryptocurrencies, stocks, and cash. For example, over 55 million shares of the trading platform Robinhood have been seized (approximately $526 million). Additionally, government regulators have seized $94 million from one of SBF's Silvergate Bank accounts and $50 million from an account at the financial institution Moonstone Bank. (Source link)