FTX's SBF Borrowed $546M from Alameda to Purchase Robinhood Stake: Court Documents Reveal

Shocking court documents have revealed that former FTX CEO Sam Bankman-Fried (SBF) and FTX co-founder Gary Wang collectively borrowed $546 million from Alameda Research to acquire a significant stake in Robinhood. This revelation sheds new light on the complex financial dealings leading up to FTX's collapse.

According to the filings, SBF, a cryptocurrency exchange FTX co-founder and former CEO, borrowed $546 million from FTX-related trading firm Alameda Research. This money, raised in April and May, was then funneled, along with funds borrowed by co-founder Gary Wang, towards the purchase of a 7.6% stake in the popular trading platform.

Rob Bankman (Sam Bankman)-Fried (SBF), through these loans facilitated by Alameda Research, became a major shareholder in Robinhood. The move, now under intense scrutiny, raises questions about potential conflicts of interest and the financial stability of both FTX and Alameda at the time. The fact that FTX founder and former CEO Sam Bankman-Fried (SBF) borrowed over $546 million from his trading house, Alameda Research, to purchase a 7.6% stake in Robinhood earlier this year underscores the interconnectedness of these entities.

The implications of former FTX chief Sam Bankman-Fried and FTX co-founder Gary Wang borrowing over $546 million from Alameda via promissory notes in April and May are significant, adding another layer of complexity to the ongoing investigation into FTX's downfall.

This discovery paints a picture of how FTX co-founders Sam Bankman-Fried and Gary Wang borrowed millions of dollars from Alameda Research to acquire a 7.6% stake in Robinhood, a move that is now subject to intense legal and regulatory scrutiny. Stay tuned for further updates on this developing story.