FTX Trading Ltd. agreed to pay $14 million to the bankrupt estate of an offshore entity once controlled by Sam Bankman-Fried, part of efforts to access more than $626 million in cash from the sale of Robinhood Markets Inc. shares.
The deal with Emergent Fidelity Technologies Ltd. “removes a significant obstacle” as FTX works to convince the US Department of Justice to provide hundreds of millions of dollars in distributions to creditors, FTX said in a motion Friday filed in the US Bankruptcy Court for the District of Delaware.
In exchange for the $14 million, Emergent will hand over its ...
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