Crypto lender BlockFi Inc. urged a court to dismiss a Sam Bankman-Fried-owned company’s bankruptcy in order to take ownership of Robinhood Markets Inc. shares.
BlockFi, which is in the midst of its own bankruptcy proceeding, accused Bankman-Fried’s Emergent Fidelity Technologies Ltd. of filing for Chapter 11 as a “last-ditch litigation tactic” to maintain its grasp on the Robinhood shares in a motion filed Thursday in the US Bankruptcy Court for the District of Delaware.
By filing for bankruptcy, Emergent Fidelity has protected itself against BlockFi’s lawsuit seeking the return of 55 million shares in Robinhood, a commission-free investing and trading ...
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