<story><title>U.S. moves to seize $460M Robinhood stake linked to Sam Bankman-Fried</title><url>https://www.cnn.com/2023/01/05/investing/doj-seizes-robinhood-shares/index.html</url></story><parent_chain><item><author>chollida1</author><text>One interesting thing about these shares that hasn&amp;#x27;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.&lt;p&gt;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 -&amp;gt; 3AC -&amp;gt; Celsius and Voyager -&amp;gt; FTX&lt;p&gt;In additional knock on effects, the US sized about $100M of crypto assets from FTX that Silvergate bank was holding.&lt;p&gt;This put more stress on Silvergate bank that was already in alot of trouble over their loans and shrinking crypto assets.&lt;p&gt;Based on the Government asking Silvergate for the HOOD shares and $8B in customer withdrawals they&amp;#x27;ve gotten, they&amp;#x27;re down almost 50% today alone.&lt;p&gt;We&amp;#x27;ll probably see someone acquire them for nothing or we&amp;#x27;ll have a bank failure pretty soon.&lt;p&gt;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</text></item></parent_chain><comment><author>jagthebeetle</author><text>Financial Times reported on Silvergate&amp;#x27;s disclosure of $8.1B in withdrawals [1], but curiously, don&amp;#x27;t mention a $100M seizure. Is this new &amp;#x2F; verified?&lt;p&gt;[1]: &lt;a href=&quot;https:&amp;#x2F;&amp;#x2F;www.ft.com&amp;#x2F;content&amp;#x2F;69cd8629-278d-4cd5-a3e7-96d2f6c85f34&quot; rel=&quot;nofollow&quot;&gt;https:&amp;#x2F;&amp;#x2F;www.ft.com&amp;#x2F;content&amp;#x2F;69cd8629-278d-4cd5-a3e7-96d2f6c85...&lt;/a&gt;</text></comment>
<story><title>U.S. moves to seize $460M Robinhood stake linked to Sam Bankman-Fried</title><url>https://www.cnn.com/2023/01/05/investing/doj-seizes-robinhood-shares/index.html</url></story><parent_chain><item><author>chollida1</author><text>One interesting thing about these shares that hasn&amp;#x27;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.&lt;p&gt;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 -&amp;gt; 3AC -&amp;gt; Celsius and Voyager -&amp;gt; FTX&lt;p&gt;In additional knock on effects, the US sized about $100M of crypto assets from FTX that Silvergate bank was holding.&lt;p&gt;This put more stress on Silvergate bank that was already in alot of trouble over their loans and shrinking crypto assets.&lt;p&gt;Based on the Government asking Silvergate for the HOOD shares and $8B in customer withdrawals they&amp;#x27;ve gotten, they&amp;#x27;re down almost 50% today alone.&lt;p&gt;We&amp;#x27;ll probably see someone acquire them for nothing or we&amp;#x27;ll have a bank failure pretty soon.&lt;p&gt;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</text></item></parent_chain><comment><author>lordfrito</author><text>Popcorn time.&lt;p&gt;Is it wrong that I&amp;#x27;m smiling?</text></comment>