FTX reaches a settlement with Emergent over $606 million in Robinhood shares, agreeing to pay $14 million in administrative fees

ChainCatcher news, according to Cointelegraph, the bankrupt crypto exchange FTX has reached a significant agreement with Emergent Technologies, an entity founded by Sam Bankman-Fried, regarding the ownership of Robinhood shares.

According to legal documents submitted by FTX CEO John Ray III to the Delaware bankruptcy court on September 6, 2024, FTX will pay Emergent $14 million to settle the administrative costs related to the latter's withdrawal of 55 million shares of Robinhood and associated cash claims.