U.S. moves to seize $460M Robinhood stake linked to Sam Bankman-Fried
One interesting thing about these shares that hasn't been confirmed as far as I can tell is that they were rumored to have been used as collateral for loans FTX took out.<p>If this is true, then someone else(Genesis) has a $500M hole in their balance sheet due to this.  Which will lead to knock on issues, just like how Luna -> 3AC -> Celsius and Voyager -> FTX<p>In additional knock on effects, the US sized about $100M of crypto assets from FTX that Silvergate bank was holding.<p>This put more stress on Silvergate bank that was already in alot of trouble over their loans and shrinking crypto assets.<p>Based on the Government asking Silvergate for the HOOD shares and $8B in customer withdrawals they've gotten, they're down almost 50% today alone.<p>We'll probably see someone acquire them for nothing or we'll have a bank failure pretty soon.<p>Almost certainly people like Elizabeth Warren will use this to show that crypto is having a spill on effect to the real world economy and therefore should be under their regulatory control