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.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 -> FTXIn additional knock on effects, the US sized about $100M of crypto assets from FTX that Silvergate bank was holding.This put more stress on Silvergate bank that was already in alot of trouble over their loans and shrinking crypto assets.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.We'll probably see someone acquire them for nothing or we'll have a bank failure pretty soon.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