{"id":547529,"date":"2023-02-04T00:45:53","date_gmt":"2023-02-03T21:45:53","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/sam-bankman-frieds-holding-company-files-for-bankruptcy\/"},"modified":"2023-02-04T00:45:53","modified_gmt":"2023-02-03T21:45:53","slug":"sam-bankman-frieds-holding-company-files-for-bankruptcy","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/sam-bankman-frieds-holding-company-files-for-bankruptcy\/","title":{"rendered":"# Sam Bankman-Fried&#8217;s holding company files for bankruptcy"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3f585a922a8\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3f585a922a8\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/sam-bankman-frieds-holding-company-files-for-bankruptcy\/#%E2%80%9D_Sam_Bankman-Frieds_holding_company_files_for_bankruptcy_%E2%80%9C\" >&#8221; Sam Bankman-Fried&#8217;s holding company files for bankruptcy &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Sam_Bankman-Frieds_holding_company_files_for_bankruptcy_%E2%80%9C\"><\/span>&#8221; Sam Bankman-Fried&#8217;s holding company files for bankruptcy &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjMtMDIvM2IwMTJiZTQtMzNkZC00YzE4LWE0NmQtYmFmYzY0MGJkNzVmLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-5a4050f8>Emergent Fidelity Technologies, a Sam Bankman-Fried holding company based in Antigua and Barbuda, has filed for bankruptcy protection.<\/p>\n<p>According to court records filed on Feb. 3, Emergent Fidelity Technologies submitted a voluntary petition to declare bankruptcy under a Chapter 11 filing in United States Bankruptcy Court for the District of Delaware. The company was already the target of a lawsuit filed by crypto lending firm BlockFi in November regarding the status of roughly 55 million shares of Robinhood. <\/p>\n<p>The Robinhood shares \u2014 worth more than $590 million at the time of publication \u2014 have been a point of contention among parties including BlockFi, FTX creditor Yonathan Ben Shimon, and Bankman-Fried himself. The Justice Department announced on Jan. 6 it had seized the shares as well as roughly $20 million in U.S. dollars as part of the case against FTX and its executives.<\/p>\n<p>Emergent Fidelity Technologies claimed ownership of the shares and the $20 million as its \u201conly known assets,&#8221; previously held by brokerage firm Marex Capital Markets before the DOJ seizure. According to a declaration by Angela Barkhouse, one of the Joint Provisional Liquidators in the case, Emergent Fidelity Technologies filed for Chapter 11 in the same court as FTX to pursue a \u201cform of joint administration\u201d between the two bankruptcies.<\/p>\n<p>\u201cThe [Joint Provisional Liquidators\u2019] duties are to the Debtor\u2019s creditors, whoever those creditors may be,\u201d said Barkhouse. \u201cGiven the many parties claiming to be creditors or outright owners of the [Robinhood shares] in proceedings in the U.S., the JPLs believe that chapter 11 protection is the only practical way to empower the Debtor to defend itself, the Assets, and its creditors\u2019 interests in the U.S.\u201d<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>FTX customers warned of scammers baiting them with return of assets<\/em><\/strong><\/p>\n<p>According to Barkhouse, Bankman-Fried owns 90% of the firm, and FTX co-founder Gary Wang owns the remaining 10%. Bankman-Fried\u2019s criminal trial is scheduled to begin in October, while Wang has already pled guilty to fraud charges.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/sam-bankman-fried-s-holding-company-files-for-bankruptcy\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Sam Bankman-Fried&#8217;s holding company files for bankruptcy &#8220; Emergent Fidelity Technologies, a Sam Bankman-Fried holding company based in Antigua and Barbuda, has filed for bankruptcy protection. According to court records filed on Feb. 3, Emergent Fidelity Technologies submitted a voluntary petition to declare bankruptcy under a Chapter 11 filing in United States Bankruptcy Court&#8230;<\/p>\n","protected":false},"author":1,"featured_media":547530,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/s3.cointelegraph.com\/uploads\/2023-02\/3b012be4-33dd-4c18-a46d-bafc640bd75f.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[89897,4978,117,67874],"class_list":["post-547529","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-sam-bankman-fried","tag-bankruptcy","tag-business","tag-united-states"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/547529","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=547529"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/547529\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/547530"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=547529"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=547529"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=547529"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}